3 years ago
MAJOR MISCALCULATION HURTING SMALL BUSINESS
BRENDAN O’CONNOR MP
Reports reveal the Morrison Government’s small business loan scheme is considerably underperforming.
Only 14,576 loans have been approved, and just $1.41 billion of the total $40 billion has been spent.
Just like it’s major $60 billion JobKeeper error, it seems the Morrison Government has miscalculated the desire for small business to take on extra debt in the current climate.
Small businesses have also cited difficulties accessing the loans because of a complex and onerous application process.
The Government needs to get the support for small businesses right.
The less done to protect jobs and support the hundreds of small and family-run businesses now, the harder and longer the recovery will be.
Australian workers, businesses and the community need the Morrison Government to do a much better job managing the recovery than they did of managing the economy before the virus outbreak.
Only 14,576 loans have been approved, and just $1.41 billion of the total $40 billion has been spent.
Just like it’s major $60 billion JobKeeper error, it seems the Morrison Government has miscalculated the desire for small business to take on extra debt in the current climate.
Small businesses have also cited difficulties accessing the loans because of a complex and onerous application process.
The Government needs to get the support for small businesses right.
The less done to protect jobs and support the hundreds of small and family-run businesses now, the harder and longer the recovery will be.
Australian workers, businesses and the community need the Morrison Government to do a much better job managing the recovery than they did of managing the economy before the virus outbreak.