Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Government delivering big push for small business

Government delivering big push for small business

“Budget 2003 reflects the continuing high priority the government assigns to fostering small and medium sized business,” Finance and Revenue Minister Michael Cullen and Small Business Minister Paul Swain said today.

“Enterprises employing fewer than 20 people are vital to the health of the New Zealand economy: making up 97 per cent of all companies, employing 43 per cent of all workers, and producing 39 per cent of all good and services,” the Ministers said.

“The budget recognises both the contribution and the potential of the Small and Medium Enterprise [SME] sector by allocating an additional $1.84 million in new funding for the 2003-04 year and $960,000 a year in subsequent years.”

The money will be used for several initiatives including:

An SME Summit to be held in February 2004. The summit will be an opportunity for government to outline the initiatives it is taking to assist small and medium businesses and will highlight achievements and innovation in the SME sector. The establishment of a Small Business Advisory Group comprising six to eight members drawn from the SME sector. The group will provide ongoing advice to ministers on issues affecting SMEs and advise the new SME directorate that has been set up at the Ministry of Economic Development.

“In the tax area, the government will put out a discussion document in August on how to ease some of the burden small businesses face when they become employers by increasing the role of payroll agents in the PAYE system.

“Options to reduce the number of tax payments small businesses have to make by combining provisional tax and GST payments will also be explored as will measures to simplify the Fringe Benefit Tax multi-rate calculations and other potential reforms arising out of the FBT review. “We are also looking at an option to reduce the common problem of new businesses getting into financial difficulties in their second and third year of trading when tax payments for the first two years of business start falling due,” the Ministers said.

Other on-going work in the SME area includes:

A progress report, due before the end of next month, on the implementation of the recommendations of the Ministerial Panel on Business Compliance Costs recommendations. The development by the Department of Labour of best practice employment information, directed at the needs of SMEs. The introduction of a training and accreditation scheme for councillors and commissioners involved in Resource Management Act decision-making. A web-based one-stop-shop for business, to be launched later this month, containing all relevant government information and services.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news