Federal Budget 2020 recap: Helping SMEs tackle the recession

The Federal Government delivered its 2020 budget last month, and as was expected it was full of stimulus goodies for small and medium enterprises (SMEs).

The day after the budget was delivered there was plenty of media coverage about the different budgetary items, but most were quickly forgotten as the news cycle moved on. For this particular budget, it’s worth going back and reviewing the many benefits to SMEs.

The importance of healthy SMEs to a buoyant Australian economy cannot be overstated. SMEs make up 99 per cent of the economy and employ two in every three Australian workers. As SMEs grow, so does the economy, employment and access to new and diverse marketplaces. Even for those who don’t work for SMEs, their survival and continued growth are critical to the continued growth of our country.