Clarence Valley small businesses optimistic after Budget
SMALL businesses in the Clarence Valley are on the return to the black after the release of the 2015 Federal Budget and proposed tax concessions and deductions that have been included.
New South Wales Business Chamber Northern Rivers regional manager John Murray has expressed his delight at the budget's accommodation of small business in the current troubling economical times.
"If you look at the totality of the initiative I think it is the total that makes it look so attractive," he said. "It should stimulate confidence in the region and I think the confidence of small businesses is the big thing that needs to improve in the Valley."
The Federal Budget incorporates a small business stimulus package totalling $5.5 billion which will act to help more than two million small businesses across the nation.
And from July 1, all small businesses, whether incorporated or not, will receive the promised company tax cut of 1.5% with sole traders and partnerships eligible for closer to 5%.
Also included is the streamlining of the business registration processes in an almost online one stop shop and new initiatives with wage start-up subsidies.
For health food business 2Be Nourished owner Chrissy Hancock these extra tax concessions listed in the Federal Budget will really help her start-up business to continue to grow.
"It is definitely a helping hand to us and other small businesses around the Valley," she said. "The Valley has obviously felt the effects of recent economic hardships and a lot of small businesses have been struggling to keep their doors open."
"These tax offsets, if they stay, will have massive long term benefits for local businesses and should see the Valley thrive again.
"I was a bit worried before opening a health food shop but Grafton has been so embracing to our business and these tax offsets will only help us to continue growing."
Mr Murray said the federal budget decisions coupled with recent announcements about the $4.3 billion pledge to the Pacific Highway upgrades spell a great short term future in the Valley.
"The combination of both these fantastic initiatives is a massive economic consideration for the regions," he said.
"I am more confident now than I have ever been about the short to medium term of the Northern Rivers."