Minister for Small Business, Innovation and Trade media release - 2 May 2017.
The Andrews Labor Government will take Victorian business to the world by reducing red tape and cutting payroll tax to create more jobs.
The Victorian Budget 2017/18 includes initiatives to boost the sale of Victorian products and services in key international markets, strengthening the Government’s global network of trade and investment offices, and reducing red tape for small business.
The Budget also cuts payroll tax by bringing forward the timeline of last year’s tax cuts, while reducing pay roll tax for regional businesses by 25 per cent. This will slash costs for thousands of businesses, help create more jobs, and ensure every region shares in the benefits of Victoria’s strong economic growth.
$3.5 million will help support small businesses in the digital economy and deliver recommendations from the Small Business Regulation Review to cut red tape and reduce the regulatory burden so Victoria's small businesses can grow and create more jobs.
With the average small business in Australia spending around five hours per week on burdensome red tape, this funding will give small businesses better access to the regulatory information they need and will see Small Business Victoria boost its online service delivery to help more businesses across rural and regional areas.
To complement this work, the Government is also helping local businesses tap into new international markets through its targeted trade mission program, large network of international offices, and new trade opportunities presented by e-commerce platforms.
Helping Victorian businesses transition to e-commerce platforms will be a game-changer for business owners, particularly those in rural and regional areas, as it will allow them to sell their products direct to consumers in the world’s largest economies, without leaving their homes.
Building on this momentum, the Budget will provide $2 million to strengthen Victoria’s presence in the fast growing Asian markets, including bolstering our global network of trade and investment offices – 11 of which are currently based in Asia.
The funding will also support the Hamer Scholarship program, which sees Victorian professionals undertake intensive six-month language courses in China, Indonesia, Japan or Korea. The scholarships are part of a drive to develop a new generation of leaders who have an intimate understanding of our key trading partners.
This year’s funding comes on top of a record $100 million already committed by this Government for strengthening Victoria’s trade capabilities and initiatives that are focussed on driving exports and creating jobs across the state.
Quotes attributable to the Minister for Small Business, Innovation and Trade Philip Dalidakis
“We’re cutting red tape and supporting the engine room of our economy – small business – to create more jobs.”
“We are taking brand Victoria to the world to help local businesses grow at home and abroad.
“With multi-billion dollar markets at our doorstep, the Labor Government is taking Victorian business to the world.”