When General Motors announced the closure of Adelaide’s Holden factory four years ago, commentators expected South Australia’s 140,000 small businesses to face economic disaster, forecasting double digit unemployment, the collapse of manufacturing and an exit of almost every automotive component supplier. 

Fast-forward four years and the ANZ Bank Stateometer now ranks the SA economy as “growing above trend and accelerating”. New South Australian businesses survival rate is at 57.2 per cent – the highest in Australia. The State Government credits its work with the small business sector as helping to achieve this result. 

In addition, over the past 18 months Investment Attraction South Australia (IASA) has secured 24 new investment projects, creating 7,085 jobs for South Australians – seven times the number of jobs that went with Holden.

Releasing the 2017 Annual Small Business Statement and announcing the new Excellence in Business Fund, Small Business Minister Martin Hamilton-Smith said the sector could give itself a pat on the back for its contribution to the economy.

The SA Government’s Excellence in Business Fund will provide SMEs grants of up to $50,000 for capability building programs to increase competitiveness, access new export and local markets, expand operations and grow jobs. A new website provides information about support, funding and initiatives available to small businesses.

Tailored small business action plans have been released after consultation during the year with 53 industry associations.

For more information about the Excellence in Business Fund, and other support available for small businesses, visit: www.business.sa.gov.au