The Australian Business Growth Fund has been formally established, enabling SMEs potential access to long-term equity capital investment of between $5 million and $15 million.

The funding will be available to established SMEs with annual revenue between $2 million and $100 million, which was recommended in the Australian Small Business and Family Enterprise Ombudsman’s Affordable Capital for SME Growth report.

The government’s next wage subsidy program is expected to support nearly half a million young Aussies gain employment by incentivising businesses to hire with a hiring credit.

Treasurer Josh Frydenberg has announced a new $4 billion JobMaker hiring credit to help accelerate growth in employment during the COVID recovery by giving businesses incentives to take on additional employees that are young jobseekers aged 16 to 35 years old.