Job vacancies higher than pre-COVID levels

Released in late January, Australian Bureau of Statistics data for November 2020 reveals job vacancies advertised reached approximately 254,000 – 12% higher than pre-COVID levels (November 2019). Retail, arts and recreation service sectors saw the largest increase in job vacancies. ABS data shows 17,300 unemployed Australians found work in November 2020, the unemployment rate falling by 0.2%.

Our economic recovery is underway. In the 2nd half of 2020, Australia’s economy has added 734,400 jobs, and approximately 85% of the jobs lost due to COVID-19 returned.

For more information on Australia’s labour force, click here.

Supporting small business through insolvency reforms

Changes to Australia’s insolvency framework are empowering businesses to recover from the impact of COVID-19 – the biggest changes to come into force in 30 years.

The Government’s new Insolvency Framework simplifies debt restructuring process for incorporated businesses, with a turnover of less than $1 million which are in financial distress. This enables around 76% of businesses subject to insolvencies to remain in control of their business while they restructure, through a flexible “debtor in possession” framework.

For more information, click here.

New priorities for Deregulation Task Force

The Australian Government has announced two new priority areas for the Deregulation Taskforce:

  1. Reducing business costs arising from administration of excise and excise-equivalent customs duty regime; and,
  2. Reducing unnecessary overlapping or duplicative cross-jurisdictional regulatory burdens.

Following the taskforce’s analysis, appropriate measures are expected to be introduced to reduce unnecessary business costs, while continuing to guarantee vital safeguards and regulations.

For more information, click here.

Temporary Full Expensing for businesses

The Australian Government has passed new legislation to allow eligible large Australian-based businesses, with a track record of investing in Australia, to deduct the full cost of eligible depreciable assets of any value in the year which they are first used or installed. Designed to incentivise Australian businesses to invest in themselves and grow, this measure is expected to create Australian jobs and boost economic recovery.

For more information, click here.

Ensuring fairer and faster payment for small businesses

Businesses with a total annual income of more than $100 million will now be mandated to report publicly on how and when they pay their suppliers or contractors, under the Government’s new Payment Times Report Scheme. Promoting transparency and accountability, these reforms empower small businesses to make informed decisions when considering business partnerships and subject larger businesses to civil penalties for non-compliance with reporting requirements.

For more information, click here.

Preparing small businesses with Cyber security guide

The Australian Cyber Security Centre has developed and released a user-friendly Guide to help small businesses identify and avoid common cyber security threats.

For more information, click here.

Reducing power bills for small business

The Small Business Grant stream of the Government’s Energy Efficient Communities Program has awarded 366 small grants of up to $20,000 to lower small businesses’ energy bills by upgrading to more efficient equipment, installing monitoring equipment and/or conducting audits. 26 small businesses across SA have been awarded grants under the program.

For more information, click here.

Setting up small businesses for export success

The Australian Government’s Defence Global Competitiveness Grant program, designed to grow the export capability of defence businesses, has announced the recipients of a share in $361,116 through its latest round. SA-based Redarc Electronics has been awarded $150,000 to expand their existing product into new markets by coating printed circuit boards and using their existing product as coating for added protection for use in commercial military vehicles.

For more information, click here.

New Facilitator for Adelaide’s North-Eastern Suburbs

9 new Employment Facilitators were appointed in January – joining those already at work – to assist more Australians find employment in 25 key regions across the country, as part of the Federal Government’s $62.8 million Local Jobs Program investment.

Among the new Employment Facilitators is Paul Williams – responsible for establishing a Local Jobs Taskforce, employment pathways to accommodate for local labour needs, and potential solutions to unemployment in the region.

For more information, click here.

Improving consumer access to credit

The Morrison Government has passed the Mandatory Comprehensive Credit Reporting (MCCR) Regime, facilitating better access to finance for Australian consumers and small businesses. By mandating Australia’s biggest banks to participate fully in the credit reporting system, consumers and businesses are able to seek a better deal, while lenders can better compete for customers with positive credit histories.

For more information, click here.

SA Jobs in Shipbuilding

More than 4,000 workers – from a wide range of disciplines – will be recruited in Adelaide over the next 4 years to support the construction of the Royal Australian Navy’s 9 Hunter Class Frigates and 12 Attack Class Submarines. Approximately 1,200 shipbuilding jobs are expected to become available in SA throughout 2021.

This year, around 1000 positions will open with BAE Systems to work on the Hunter Class Future Frigates project – currently in the prototyping phase. Additionally, around 250 positions are expected to be made available with Naval Group Australia in SA, as detailed design work on the Attack Class Submarines continues.

For more information, click here.

Growing SA’s shipbuilding workforce

A new Cooperation Agreement has been reached between the SA Government and the Australian Government’s Naval Shipbuilding College, to help grow SA’s skilled naval shipbuilding workforce through targeted workforce development and business support strategies for local shipbuilding and sustainment sectors. For more information, click here.

Meanwhile, the first 18 school-based apprentices undertaking SA’s Shipbuilding Readiness Training Program have graduated from their Cert II in Engineering, ready to complete their Cert III in Engineering (Fabrication) before working with BAE Systems Maritime Australia on the Hunter Class Frigates build. For more information, click here.

Upskilling shipbuilders for the Hunter Class Frigate build

TAFE SA and BAE Systems Maritime Australia have partnered with Flinders University to deliver the new Diploma of Digital Technology to upskill shipbuilding workers. 51 former employees, who were employed to construct the completed Air Warfare Destroyer fleet, comprise the first batch of graduates from this Diploma – now trained and prepared for employment in the Hunter Class Frigate and Offshore Patrol Vessel programs.

For more information, click here.

New business attracted to Adelaide’s Lot Fourteen

A joint initiative of the Australian and South Australian Governments, Lot Fourteen continues to attract new businesses from overseas and across Australia – driving local job creation.

This month, Amazon announced it will be expanding its presence in Adelaide and joining Lot Fourteen to grow two of its branches – Amazon Web Services and Amazon Sciences – creating more than 50 local jobs over the next 3 years.

Additionally, a dedicated design and production facility for CryoClock is being launched at Lot Fourteen, providing Australian companies with high-tech project opportunities and advancing Australia’s sovereign defence industry base.

For more information, click here.

NBN Upgrades in Adelaide’s North-Eastern Suburbs

Residents and businesses in Gepps Cross, Salisbury and Golden Grove are among the next 10,000 premises to receive access to ultrafast broadband, through the second rollout of NBN Co’s $4.5 billion network investment plan.

Among many other functions, this project enables businesses to access the Government’s $800 million Digital Business Plan – designed to enable businesses to adopt key digital technologies.

For more information, click here.

$50 million Business Events Grants Program

The Morrison Government has announced $50 million for the new Business Events Grants Program, which will provide approved events funding of up to 50% of costs (between $10,000 and $250,000), enabling businesses to exhibit and participate in business meetings, conventions, trade shows, conferences, and more.

Supporting business events has a flow- on effect in providing business for local hotels, restaurants and retailers, among others. Already, 13 events have been approved in SA for funding in 2021.

For more information, click here.