FEDERAL BUDGET 2011: Small business support line given $7.1 million over four years

Funding for the Small Business Support Line has been extended in this year’s budget, with the project to receive a further $7.1 million over the next four years.

Small Business Minister Nick Sherry says the support line, which was launched in September 2009, has received over 30,000 calls since it began and has become a valuable source of support for businesses seeking advice on issues such as cashflow, retail leasing and contracting.

“The support line allows small business operators, many of whom are time-poor, to access expert advice quickly and easily wherever they are,” he says.

“Around one third of all calls are from businesses in regional areas.”

The news will be welcomed by struggling start-ups, with Sherry saying about 93% of all the calls received by the support line are from new businesses, or from businesses that have been in operation fewer than 10 years.

Sherry also argues the funding is justified, given 89% of all calls are resolved and others being referred to the “appropriate third party”.

In these cases, the Government says callers will be pointed in the direction of business advisers, who will help those businesses find further assistance.

“New businesses often have limited access to resources, knowledge and professional networks and are less likely to be in a position to pay for professional advice at the early stages of development,” Sherry says.

“In the aftermath of natural disasters like the 2011 floods and Cyclone Yasi, the Support Line has also proven to be an important resource for small businesses in times of emergency and crisis,” Sherry says.