Small Business Minister Michael McCormack has provided relief for young Australian entrepreneurs. There are some fantastic new products and services available to help the younger generation who are starting a business for the first time.
Following the increase of young Aussies going into business, particularly in industries such as construction, transport, information technology and telecommunications, the Australian Taxation Office (ATO) has made the process even smoother to help young Aussies to have a go.
McCormack says, “When starting your business – just like I did – you are pursuing your dream. This can mean new businesses, especially young people, need some guidance in getting it right. I want our young people to go out on their own into small business with their eyes wide open, giving them the best chance of success.”
Government agencies, including the ATO, Australian Securities and Investments Commission and the Department of Industry, Innovation and Science, recently joined forces with young small business owners to form a ‘fix-it squad’. The squad researched how the Government could help young Australians starting a new business and worked together to create some useful new products.
“Every day I am inspired by Australian small business – particularly young people who take the risk and have a go, which is why these new products are geared to help,” adds McCormack.
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“New small business owners can now also receive additional support with the New to business essentials email service. Starting after they register for their Australian Business Number (ABN), the service delivers timely, relevant and helpful government information at key points over 12 months. This gives new small businesses better information and a greater chance of success.”
Making life easier for small business is a focus for McCormack as Small Business Minister.
“I have been there, starting out and hoping your risk and your dream pays off. That’s why I know the great thing about these products is that while they were developed with young Australians in mind, they’ll be useful for anyone starting a business,” says McCormack.
“Estimates say these products will save the Australian small business community around 1.5 million hours a year, giving new business owners more time to grow their business or spend with their families – which are some of the best investments they can make.”
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