Budget 2024: What’s on the SME wishlist ahead of May 14?

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.

Mark Perry, Chief Growth Officer at Biza.io

“While the government has been working on energy bill relief for families and small businesses, and hinting at potentially extending these financial returns with the upcoming federal budget, they are missing the significantly bigger opportunity to help consumers in today’s cost-of-living crisis. Australians don’t just need cheaper energy, they need the tools and knowledge to understand how to get the best and most cost-effective energy services for their needs. Currently, most consumers still see the energy sector as a complex minefield of offerings that are designed to outsmart them.

“This is the exact problem the CDR (Consumer Data Right) was launched to address, yet ongoing delays are keeping these benefits from consumers, leaving them in the lurch as they try to navigate the growing costs and complexity of the energy industry. In this federal budget, we need stronger action and stricter measures in place to ensure the full capabilities of the CDR are delivered in a timely manner. This is particularly true for action initiation, which has the potential to be a major function of the CDR, and will allow consumers to easily switch providers based on informed and personalised data comparisons using CDR data sharing.”

Originally published at Dynamic Business