Cash boost for small businesses in South Australia

South Australian small businesses have benefited greatly, with a much needed emergency cash boost 

More than 18,700 small businesses and not-for-profit organisations in South Australia have benefited from a $10,000 emergency cash grant to help them survive and trade through the COVID-19 pandemic. This has in turn supported nearly 100,000 local jobs across more than 420 local industries.

The significant financial stimulus is part of the Marshall Government’s $1 billion economic stimulus package. It has boosted many retail services in the process. Among the industries to benefit include:

  • Cafes and restaurants ($13.5m + 10,980 jobs)
  • Hairdressing and beauty services ($8.26m + 3,477 jobs)
  • Takeaway food services ($6.62m + 4,172 jobs)

Other industries that received the government grants which totalled $187 million include hotels, pubs and clubs, gyms and fitness centres, travel agents, builders, vets, meat processors, manufacturers, fruit growers, childcare centres, aged care residential services – even beekeepers.

Read the full media release from the Hon David Pisoni MP, Minister for Innovation and Skills here.

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FURTHER READING

Retail Voice CEO Message: 3 August 2022

As anticipated, the Reserve Bank has increased interest rates for the fourth straight month, with the cash rate now sitting at a six year high of 1.85%. Unfortunately, the economic challenges are likely to get worse before they get better, as outlined by Treasurer Jim Chalmers in his economic update to Parliament last week.

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