Home featured Featured Featured Budget 2024: What’s on the SME wishlist? (Part 2) Yajush Gupta May 14, 2024 Please note that this is a continuation from our previous edition of the Budget Wishlist. With the Australian Budget announcement just around the corner, small and medium-sized enterprises (SMEs) are eagerly waiting to see what the government has in store for them. This year’s budget holds the potential to significantly impact their growth and ability to navigate current economic challenges. What will the government unveil to support the backbone of the Australian economy – SMEs? Our experts reveal their wishlish for the upcoming budget. Chris Dahl, CEO, Pin Payments “This Tuesday’s Federal Budget is a pivotal moment for Australia’s 2.6 million small businesses. SMEs, the backbone of our economy, have been disproportionately impacted by rising costs and inflation. The budget must deliver substantial economic relief, including energy bill relief and targeted measures to alleviate financial burdens. SMEs are also looking for support in navigating the AI revolution. Funding for training programs and innovation grants will be crucial to ensure businesses can harness AI’s potential while mitigating job displacement concerns. Cybersecurity is another pressing issue, with cyberattacks costing small businesses millions each year. We need to see concrete measures to protect SMEs from these threats, including training and financial assistance for fraud prevention. Additionally, fostering innovation is essential for Australia’s economic future. The budget should incentivise SME innovation through investment in digital skills, literacy, and technology. Finally, we cannot overlook the persistent disparities