Queensland to Offer $650 Energy Rebates to Small Businesses in New Relief Package
Queensland, also known as the Sunshine State in Australia, has introduced a new relief package that will benefit small businesses with energy rebates. The state government has allocated a budget of AUD1.48bn for 2023-2024, with a major focus on providing cost-of-living relief to households and businesses that are struggling with runaway inflation. In addition to supplementing the federal government energy rebate funding with AUD1.1bn, QLD will provide its own AUD650 rebate for small businesses with an annual energy consumption of less than 100,000 kilowatt hours. This move is expected to relieve about 205,000 businesses across the state.
Other Highlights of the QLD Budget
Apart from the energy rebates, QLD Government aims to support its residents and businesses in many other ways. Here are some highlights of the 2023-2024 Queensland budget:
$8.7m funding increase in October 2022 that launched the Small Business Resilience resources and dedicated wellness coaches stationed in Cairns, Mackay, Townsville, Toowoomba, and North and South Brisbane.
$6.8m over three years for initiatives designed to bolster the mental health and well-being of small business owners.
$5m funding for a pilot Women Founders Co-Investment Fund and the Women Founders Acceleration programme over two years.
$4.6m for the Women in Commerce Apprenticeship Mentor Program designed to support women seeking jobs in the trades.
$5.9m micro-credentialing Pilot Program over four years from 2023-2024 that boosts an initiative to upskill and retrain workers in priority areas.
$645m over four years from 2023-2024 to provide 15 hours of free kindergarten per week for children under the age of four.
$5m allocation to cybersecurity support initiatives dedicated to small and medium-sized businesses.
Support for the establishment of the Queensland Indigenous Business Network, which the government says will provide support and advocacy for First Nations-run businesses.
Conclusion
The state government of Queensland has taken many steps to support its people and businesses during difficult times. In addition to providing energy rebates to small businesses, the government has allocated funds for several other initiatives that aim to boost mental health, upskill workers, and support women-owned and Indigenous-run businesses. These measures will help alleviate cost-of-living pressures for residents, provide relief to struggling businesses, and improve employment opportunities for workers across the state.
Summary:
Queensland has introduced a $1.48bn relief package for 2023-2024 that will provide energy rebates of AUD650 to small businesses with an annual energy consumption of less than 100,000 kilowatt hours. Additionally, QLD Government has allocated funds to several other initiatives such as mental health and well-being support for small business owners, upskilling and retraining programs for workers, and free kindergarten for children under the age of four. This move will alleviate cost-of-living pressures for residents, provide relief to struggling businesses, and improve employment opportunities for workers across the state.
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Small businesses in Queensland will receive rebates on energy bills of $650, thanks to a new $1.48 billion relief package at the heart of the Sunshine State’s 2023-2024 budget.
Queensland Treasurer Cameron Dick delivered the new state budget on Tuesday, promising cost-of-living relief for households and businesses facing runaway inflation.
Under the plan, the state government will supplement the federal government energy rebate funding with $1.1 billion from their own coffers to ensure every Queensland household receives a rebate of at least $550.
Small businesses with an annual energy consumption of less than 100,000 kilowatt hours will receive a rebate of $650, a move that is expected to provide relief to approximately 205,000 businesses statewide.
While the government touts its energy relief as its top item, the budget also promises $6.8 million over three years for initiatives designed to bolster the mental health and well-being of small business owners.
That funding comes in the following the $8.7 million funding increase in Octoberwhich launched small business resilience resources and dedicated wellness coaches stationed in Cairns, Mackay, Townsville, Toowoomba and North and South Brisbane.
The Queensland Government will scale up its funding for the pilot Women Founders Co-Investment Fund and the Women Founders Acceleration programme, pumping $5 million into the initiatives over two years.
Some $4.6 million will go toward the Women in Commerce Apprenticeship Mentor Program, designed to support women seeking jobs in the trades.
As companies scramble to fill specialized roles, the Micro-Credentialing Pilot Program will grow by some $5.9 million, boosting an initiative designed to upskill and retrain workers in priority areas.
Additionally, the budget provides $645 million over four years from 2023-2024 to provide 15 hours of free kindergarten per week for children under the age of four.
Beginning in January 2024, that initiative is expected to save the family of the average kindergarten attendee about $4,600 a year.
“This will not only reduce cost of living pressures for families, but will also support labor market participation and improve educational outcomes,” the budget documents state.
Combined, the state government sees these measures as a solution to persistent labor market difficulties.
“In the medium term, increasing the flexibility, skills and participation of the labor force, and other actions to improve the competitiveness and productivity of state companies, will help to reduce the constraints on the supply side and cushion the pressure about prices and cost of living,” the documents state.
With digital threats on the minds of business leaders across the country, the budget will allocate $5 million to cybersecurity support initiatives dedicated to small and medium-sized businesses.
The budget also commits to supporting the establishment of the Queensland Indigenous Business Network, which the government says will provide support and advocacy for First Nations-run businesses.
This article was first published by Smart Company. Read the original article here.
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