To our valued members,
On Tuesday night, the Federal Government released its 2025–26 Budget – a budget that could have been a clear opportunity to recognise and back the beating heart of our economy: small and medium businesses.
Disappointingly, it was an opportunity missed. Again.
While there are small isolated measures that offer some minor relief – such as continued energy rebates and apprenticeship incentives – the budget as a whole is far from bold, and lacks any significant investment in the small business, start-up, and entrepreneurial sectors. These are the sectors that drive innovation, create local jobs, and underpin community resilience, particularly in regional economies such as Geelong.
Let me break down what’s in – and more importantly, what’s missing – for SMEs:
What’s Included
- Energy Bill Relief: A continuation of bill rebates (up to $150) for eligible small businesses, extended until December 2025. While welcome, this is a short-term band-aid for broader and likely sustained cost pressures.
- Apprenticeship Support: Additional incentives for apprentices and employers in construction-related trades. Again, helpful, but narrowly focused.
- Cybersecurity Support: Funding continues for existing digital and cyber resilience programs, although no new initiatives were announced, only continued.
- Fair Competition Measures: Promised reforms to tackle unfair trading practices and limit non-compete clauses – potentially positive steps, but details and timelines remain unclear and it does cause issue for SME’s now grappling with how to protect IP.
What’s Missing
- No Boost for Start-ups or Entrepreneurs: There is no new funding, no policy shift, and no incentive for early-stage businesses or those looking to innovate and grow. The ecosystem that could drive Australia’s future competitiveness is being left behind. Again.
- Instant Asset Write-Off in Limbo: Despite promises, the government has failed to legislate the extension of the $20,000 instant asset write-off — creating massive uncertainty for small operators planning to invest in tools, vehicles, and capital equipment.
- No Broader Vision for Small Business: There’s a clear absence of strategy or ambition for the small business economy – no mention of growth, digital adoption, skills development, access to capital, or long-term resilience-building.
- Silence on Regional Economic Development: For regional communities like ours, where small businesses are the economic and social lifeblood, there was nothing meaningful in the way of tailored support or investment.
- Strong Economic Investment: We live in Victoria, so taxes and levies are a constant unwelcome hindrance for businesses. The Labor Federal Budget could have bucked the trend and promoted economic growth through incentivised investment and funded enabling programs to drive economic growth. Certainly a missed opportunity. You will hear more from the Geelong Chamber on this over the coming months.
Why This Matters
Small businesses are not looking for handouts – they’re looking for policy certainty, fair conditions, and the confidence to invest, employ and innovate.
What we needed from the budget was a signal from the federal level that the government sees small business as the future. Instead, this budget feels more like a placeholder than a plan.
At the Geelong Chamber, we will continue to advocate loudly and consistently on behalf of our members. We will be seeking clarity from government, engaging with decision-makers, and pushing for policies that reflect the true value of small and medium enterprises to Australia’s prosperity.
If you’d like to contribute your voice or share how this budget impacts your business, please reach out and ensure you are a member, so that your experiences shape our advocacy.
Warm regards,
Jeremy Crawford
CEO, Geelong Chamber of Commerce
