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ACT’s plans on growing local businesses

By Ben Faulks

If you're a business owner in Belconnen, exciting things are in the works. The 2015-2016 ACT Budget outlines big plans on supporting and empowering the local Canberra industry.

Getting down to business

$11.8 million will be invested into a range of initiatives that aim to grow Canberra's private sector. The CBR Innovation Development Fund and the CBR Trade and Investment Fund are two new programmes that will support enterprise-focused activities.

Funds will also be spent on building upon the success of Brand Canberra, a project to promote the city as an ideal place to live, work, study and invest in.

Investment will also go toward encouraging the growth of local firms and their partnership with the government. This will come in the form of two new initiatives. Firstly, the Local Industry Advocate will be established, which will be an office that represents local businesses in ACT government decisions.

The other is the Small Business Innovation Partnership, an initiative that will give local businesses the opportunity to contribute innovative services and products to the government.

On the line

$4.7 million will be used on simplifying and unifying the processes involved with doing business with the government. The budget plans to achieve this through Access Canberra, an online framework designed for this purpose. This platform will make it simpler to obtain business licences and permits and easily transact with other government services.

Building and construction

$3.9 million will be used to improve environment and planning services used by the construction industry. This funding will go toward streamlining approval processes, and upgrading the ICT systems used for development applications and approvals.

It's a great time to live in Canberra you're looking to start up your own business. The friendly advisers at Ray White Belconnen will help you find Belconnen real estate suited for you and your business plans. Just arrange a meeting with us today! 

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