By Wayne Swan, Federal Treasurer, Member for Lilley.

Queensland has one of the most innovative and progressive business environments in the world.

I am constantly amazed by the creative businesses that continue to be developed and thrive in Queensland.  

Wayne Swan, Federal Treasurer.

These people are innovative and passionate about their products and determined to succeed.  

Since becoming Treasurer I’ve been fortunate enough to meet and learn about an even wider cross section of businesses Australia-wide and Queensland is like an incubator for some of the best products and ideas.

It is for that reason that the Rudd Government is committed to helping Australia’s innovative small and medium businesses.

Especially as we go through these challenging times in the face of the global recession.

Small business is critical to the future of the Australian economy and employs some 3.7 million Australians.

HELP FOR BUSINESS

The Government has acted decisively in the past 12 months to combat the worst impacts of the global credit crisis on the Australian economy but we can’t completely withstand the pull of international forces.

That’s why we’ve been implementing initiatives directly related to businesses like the 10 percent additional investment allowance designed to encourage important capital investment by Australian businesses.

It will give businesses confidence to continue to plan positively and invest for the future, providing crucial support to growth and jobs during these difficult global economic times.

The investment allowance is in addition to the Rudd Government’s $10.4billion Economic Security Strategy designed to bolster households and businesses, strengthen the economy and support jobs during the global financial crisis.

As part of the package the Government will invest $187m to create an additional 56,000 new training places in FY08-09. The funding injection will effectively double the Productivity Places Program.

UP TO THE CHALLENGE

In these challenging financial times, there is no easy path to success, but there are plenty of people in Queensland working hard to build a better way of life for themselves, their families and their communities.

There are many, many examples of Queensland success stories that have won global recognition – and I’m confident there are plenty more to come.

And I’m looking forward to the next round of business innovators and the service companies that are helping support and drive those businesses, many of which are featured in this Business Acumen 2009 Yearbook.

These are the ones that show such enormous promise and offer Queensland an ever-diversifying economy that is well placed to weather the storm from the global recession.

I also take my hat off to the leading educators and training organisations, many featured in these pages, which are providing the vital catalysts of wisdom, knowledge, experience and encouragement that allows businesses and individuals to reach their potential.

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