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Victorian Government helps small business

The 2018 Victorian State budget provides a raft of new funding to support and grow small business in the state.

The Victorian Government has allocated $13.5 million in the 2018-19 Victorian Budget to help over half-a-million of the state’s small businesses grow and create jobs.

The funding will be targeted at mentoring and support to help small business operators understand how to benefit from the digital economy.

A digital roadshow in regional Victoria will advise businesses about how to make the most of the digital age and to reduce cyber security risks.

The Victorian Government will fund the Victorian Small Business Commission’s farm debt mediation services, to help Victorian farmers undertake financial mediation with their creditors.

And it will also continue to encourage interstate and international companies to invest in Victoria.

An extra $55 million will be allocated to the Investment Attraction and Assistance Program, which brings new businesses to Victoria and helps existing businesses expand – creating new local jobs. 

More than $5.5 million will be provided to reduce the cost of public transport for eligible international students during their time in Victoria, boosting another key contributor to Victoria’s strong economy – international education.

International education is Victoria’s largest service-based export, currently contributing more than $9.1 billion to the local economy and supporting more than 58,000 jobs across the state. 

For small businesses in regional Victoria, the Government is cutting payroll tax for the third year in a row, making it the lowest anywhere in Australia.

The regional payroll tax rate will be cut to 2.425 per cent – half the metropolitan rate.