MTAQ: New Funding Access for Small Businesses
Treasurer, the Hon Josh Frydenberg MP and Senator, the Hon Michaelia Cash, Minister for Small and Family Business, Skills and Vocational Education jointly announced today a $2
billion fund to transform small business access to funding.
The Motor Trades Association of Queensland (MTA Queensland) welcomes the announcement to introduce an Australian Business Securitisation Fund and supports further discussion on
the development of an Australian Business Growth Fund.
The new pool of capital will assist smaller banks and non-bank lenders to access more capital specifically for the sector.
Dr Brett Dale, Group Chief Executivefor MTA Queensland said, “We are extremely pleased with this announcement and support initiatives that remove barriers to investment, especially where small to medium enterprises (SMEs) do not have access to the finance they need to start or grow their businesses.
This will ensure access to affordable capital that is essential for growth. “
There are some 15,500 automotive value chain businesses in Queensland and a huge segment of these are SMEs. They employ in excess of 90,000 people and generate over $20 billion annually, so enhancing small business access to funding is an investment into the future of the automotive industry and the Australian economy.”