What #BUDGET2016 means for mumpreneurs
The Federal budget is always an interesting time. Which things will the government prioritise, who will be affected and how will they be affected. I spoke to 9News this morning about my thoughts on the budget and why we’re paying close attention to the government’s continued focus on supporting mumpreneurs.
In the past 12 months we’ve been talking to a LOT of politicians, in September last year we called for a national conversation for mumpreneurs and asked that the government consider supporting this demographic for a number of reasons.
The main reasons supporting mumpreneurs is a good idea are:
- We generate billions of dollars for the economy
- We employ people – often other women and we’re more likely to provide flexible employment opportunities for our staff
Anyway I think they’ve been listening, here’s some of the initiatives that will benefit mums:
EDUCATION FOR WOMEN
Mums who have been out of the workforce while raising children will be helped by a multi-million dollar re-skilling package designed to help ease the transition back into employment. We’re keen to find out more about this is what our new Women’s Business School is all about and something we’re really passionate about!
Low and middle-income workers, such as stay-at-home mums, will also benefit from superannuation measures announced by the Treasurer. The Budget outlined the Government’s plan to introduce a Low Income Superannuation Tax Offset, which allow people who earn less than $37,000 to have a refund paid directly into their retirement account of up to $500 for the tax paid of their concessional contributions. More than two million low-income women will directly benefit from the measures and as a result be able to build their superannuation savings, according to the Budget papers.
I was very impressed particularly with some of their ideas like allowing partners to make super contributions. Super is a massive issue for women – a third of women are retiring with no super at all and even those who do have super are on average $92,000 worse off than men, so anything that the government can do to address this is a positive I think.
SMALL BUSINESS INCENTIVES
There are planned tax cuts for people on higher salaries, while small businesses will get a cut down to 27.5% as a way to get them to hire more staff. This might not seem like a big deal, but paying tax is painful for small businesses and any reduction we can have to this is a bonus!
The $20,000 tax free threshold for equipment which was introduced by Minister Billson in 2015 will continue this year. I’m so glad to see this continued, it really gives small business a helping hand, we’ve put it to good use ourselves this year, buying a new iphone and planning to buy a new computer for the business as well.
The Youth Jobs program is also another initiative I think we can benefit from as Small business owners. The PaTH (Prepare-Trial-Hire) program is a great opportunity to trial an intern in your business. You only commit to 12 weeks and then if all is going well you extend it from there.
Families will also be able to pay for childcare by the hour, rather than the current pay-per-day scheme. It’s a massive win, considering some women are forking out up to $100 a day at some centres at the moment! The government has also extended a year-long trial of subsidies for in-home nannies.
Childcare is an interesting one for me. I’ve never used a traditional day-care centre, I’ve always preferred having my babies close by, either with a nanny or else a family member when I need to travel for work. This is something we’ve been talking to the government about a lot because traditionally when governments have thought about women and working they’ve had this notion that building more childcares will make more women work, when actually it’s not a one-size fits all model and there’s a whole host of reasons why women aren’t using these centres. There needs to be more done to provide options that work for mums but I do think pay by the hour and nanny subsidies are a great start.
What wasn’t in there that we’d love to see:
Grants for mumpreneurs
Increasing workforce participation by just 1% would generate an estimated $4billion! And we’ve seen research that suggests 70% of new mums have considered starting a new business. Imagine if we could make that happen! I believe we can, often all it takes for a woman to get a new business up and going is a small amount of capital (even $5000 – $10,000 would be enough to get some businesses off the ground).
Funding for Small Business Education
Starting a business is an amazing experience but it can also be very hard when you don’t have business experience. So many mums are starting out in business to have greater work life balance and end up running themselves in to the ground and making no money. By giving women the right support and skills they need when they are beginning in business they will see better success in both their business and life.
Initiatives like these would be life-changing for mumpreneurs. We really believe investing in women has the power to change the world and we’re so determined to prove that we can make a difference with our new Women’s Business School which launches with a national 5 city Masterclass Roadshow in June this year.
We are so committed to inspiring women to reach their full potential by connecting them with the support they need and the education and skills required to build and grow a successful business.
We have built our own school covering everything we wish existed when we were starting out.
It’s a world first, a business school exclusively for women, and contains everything new business owners need to succeed.
Combining a one day Masterclass in Sydney, Brisbane, Melbourne, Adelaide and Perth in June plus 6 months of online learning in key business topics of sales, marketing, social media, branding, time management and finances – this program gives you the tools, techniques and strategies you need to grow your business.
Unlike other courses, this program has been designed with women with young families in mind, with content delivered in a range of formats to suit a busy life. For each lesson you can access pre-recorded video tutorials, audio recordings or printable transcripts. Allowing you to learn when, how and where you like.
This unique program also features the Secrets to Success Series, inspirational interviews with some of Australia’s most successful up and coming businesswomen giving you insider information into a range of industries including fashion, retail, product development, services, wholesaling, digital innovation, food, manufacturing and more.
As a part of the program you also gain lifetime access to a supportive tribe of successful women to help you feel embraced, empowered and guided through every single area of your life and business.
Federal Candidate Owen Guest has been working with us recently and really believes in the work we are doing, saying, “Small businesses are the backbone of the Australian economy. They are the key drivers of growth and jobs and provide the gateway to the 21st century economy.”
The business school also grows our partnership with St George Bank, BankSA and Bank of Melbourne as our major partners and contributors to the school.
Stuart Zalunardo, St.George Bank’s Head of SME said, “St.George is proud to partner with Ausmumpreneur in this important initiative and help equip women with the right tools to grow their business.”
To keep class sizes small only 50 places are available in each city. Applications open soon. If you’d like to pre-register your interest for this exclusive program please complete the form below: