16 November 2018
Gold Coast small businesses will benefit from the Liberal National Government’s introduction of a $2 billion Australian Business Securitisation Fund.
Local MP Steven Ciobo said many small business owners on the Coast find it difficult to obtain finance unless they put up their family home as collateral.
“The Gold Coast is known as the start-up city across the nation and I know for many local businesses, their biggest frustration is their struggle to access finance, often meaning they must put their own assets on the line,” Mr Ciobo said.
“This means they are not able to bid for that contract, or invest in the technology they need to transform their business. This fund means more small businesses will have access to the finance they require grow their business and create more local jobs.
“We are backing those small family businesses, who have taken the risk and work long hours day after day to succeed. When small and family businesses on the Gold Coast are thriving, the city’s economy benefits.”
With more than 73,000 small businesses employing thousands of locals, enhancing small business access to funding is part of the Liberal National Government’s plan for a stronger economy.
Local business Dairy Free Down Under owner Kevin Flanagan welcomed the announcement and believes it will encourage local entrepreneurs to take the plunge.
“Our business has already grown significantly in the past year, so we are are now looking to expand our business in the coming years, with the desire to become an Australian household name,” Mr Flanagan said.
“One of the biggest obstacles to overcome as a small business is access to finance to invest back into your business and can be difficult without considerable backing.
“This announcement means we may be able to invest money into expanding our warehouse and our equipment facilities and scaling our Australian retail efforts into more independents and possibly Coles and Woolworths to meet Australia’s hunger for vegan products.
“It’ll also support us as we break into overseas markets. And the best thing about helping Australian businesses is that when our locally owned businesses do well, we can hire more locals.”