June 11, 2020
The Federal Government announced on Thursday that it will commit more than $4.7 million to provide small regional businesses with access to free and confidential financial counselling.
The funding is part of the government’s $1 billion Relief and Recovery Fund which is delivering targeted assistance to regions, communities and industry sectors that have been disproportionately affected by COVID-19.
Deputy Prime Minister Michael McCormack said the Rural Financial Counselling Service could support hundreds of regional small businesses.
“Today’s announcement is another step forward in regional Australia’s economic recovery from this pandemic, with more investment in the industries and businesses hardest hit,” Mr McCormack said.
“The service will also create jobs for small business financial counsellors and support workers.
“This builds on our previously announced support for regional aviation and air freight, export industries, the arts industry and tourism businesses.”
Agriculture Minister David Littleproud said the funding would help eligible small businesses access the immediate advice and assistance they needed to keep afloat and navigate the road to recovery.
“Small businesses are the lifeblood of our regional communities and we know that many are struggling through drought and trying to recover from this season’s devastating bushfires,” Mr Littleproud said.
“This measure is designed to ensure that businesses remain resilient through the COVID-19 downturn and are able to rebound when normal trading conditions resume.
“This funding is in addition to the $7 million already provided for small business financial counselling services in drought-affected communities.”
- More information is available online