Government plays a key role in the economy. Through regulation and its direct role in the consumption and production of goods and services, it impacts on both economic dynamism and competition across the economy as a whole. This section will cover four aspects of the role that government plays in the economy.
The National Small Business Strategy outlines how different levels of government will work together to better support Australia's nearly 2.6 million small businesses. The strategy was developed in close collaboration between the Commonwealth, state and territory governments as well as key stakeholders.
Technology Solutions and IT Services. With the rapid advancement of technology, businesses offering IT services, digital marketing solutions, and cybersecurity are in high demand. As Australian companies increasingly adopt new technologies, the need for expert support continues to rise.
How to Support Your Friends' Small Business like and comment spread their name/share their posts words of encouragement, treat them like the business that they are, hire them/buy from them
The Small Business Success Grant is a programme specifically created for new, for-profit, privately owned businesses located in the United Kingdom. If your business has generated less than £10,000 in annual revenues, you're eligible to apply.
The Government continues to support small businesses through challenges and create the economic conditions for small businesses to invest, innovate and generate new jobs that will benefit Australian communities.
Local Businesses Create Jobs Supporting these businesses means supporting employment opportunities for local residents, reducing unemployment rates, and improving overall economic stability.
A quick analysis of stats from Freedom of Information Requests made to Innovate UK in 2023 shows the trend to higher numbers of applicants and lower success rates. The three Smart Grant calls in 2023 produced success rates between 3.1% to 5.5%. Now we have seen the success rate drop under 3% in 2024.
The Restart Grant scheme supports businesses in the non-essential retail, hospitality, leisure, personal care and accommodation sectors with a one-off grant, to reopen safely as COVID-19 restrictions are lifted.