Newspaper article Daily Examiner (Grafton, Australia)

Helping Hands for Small Business

Newspaper article Daily Examiner (Grafton, Australia)

Helping Hands for Small Business

Article excerpt

Byline: MAKING MONEY By PAUL CLITHEROE

IN my younger days I was convinced if you wanted to be wealthy you had to own a successful business.

I'm not sure if I was influenced by friends or family but like many Australians I always wanted to start a business of my own.

I now realise that wealth can be created by anyone who consistently spends less than they earn and who invests their savings on a regular basis. However there is no doubt that running a small business can offer opportunities to build wealth, especially if you're prepared to work hard.

Recognising the valuable contribution small businesses make to the national economy, the Federal and State governments offer a raft of support to the small business sector.

If you're thinking about starting up your own business, it may be worth looking into the Federal Government's New Enterprise Incentive Scheme (NEIS).

It's available to jobseekers with an idea for a new business, and it provides financial support a the NEIS Allowance, for 52 weeks at a rate equal to Newstart Allowance, currently $474.90 per fortnight.

A benefit of the NEIS Allowance is that the amount you receive isn't affected by the income the business generates.

Established businesses can take advantage of a wide range of Federal and State government grants.

These are available to support business expansion, research and development, innovation and exporting. There are too many grants to note here but you can find full details on the government's business portal a www.business.gov.au. Click on a[approximately]Grants and assistance finder' for the full list of grants.

There are also some very good support services small businesses can tap into. One worth looking at is the Small Business Superannuation Clearing House run by Medicare Australia. …

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