6 July 2017

A LOCAL start-up hub in the Newcastle Mall – The Roost Creative – shows the wonderful opportunities in starting a small business, Small Business Minister Michael McCormack says.

“Successful small businesses start with the spark of an idea and the hard-work to make it a reality,” Mr McCormack said.

Bringing the nationwide small business roadshow to Newcastle today, Mr McCormack congratulated the team at The Roost Creative for helping local small businesses grow.

“I am constantly inspired by those who are starting out and having a go. Local and innovative collaborative spaces can be a great help for start-ups to share ideas and help each other expand,” Mr McCormack said.

“That’s why I know the Federal Government’s tax cuts – to the lowest level in many decades – and extension to the instant asset write-off give small businesses, such as those in the start-up space, practical support to grow.

“By backing local small businesses, we help those businesses create jobs and grow our economy – and that’s why I want to see more start-ups succeed.”

Mr McCormack urged Newcastle’s small businesses to take advantage of the recently-extended $20,000 instant asset write-off programme.

“Any capital equipment local small businesses need under $20,000 – from computers and iPads to tradies’ tools and coffee machines for a café – can be written off immediately against your tax,” Mr McCormack said.

“Around the country, I met hundreds of small businesspeople who told me what a help that is for small business. I took that feedback to the Budget process and the program was extended for a year.

“I heard how buying locally helps create a ‘chain reaction’ in staff morale, customer satisfaction and work for the small businesses from which the equipment is purchased – all of which helps create jobs and grow our economy.”

“So my message to Newcastle small businesses is simple – have a go. The Federal Government is backing in small business by creating a business-friendly framework of lower taxes, access to international markets, less red tape and a host of other small business incentives.”

While in Newcastle, Mr McCormack held a policy forum and met with a number of small businesses with local MP Sharon Claydon.

Dom Hopkinson