Rising interest rates, high inflation and the economic slowdown have made some small businesses hesitant to invest capital.

The Australian Business Growth Fund was established more than two and a half years ago, and since launching, its deployed more than $130 million dollars in capital to small and medium-sized businesses looking to invest.

As families continue to do their best to make ends meet with financial pressures continuing to mount on them, small businesses have become a casualty of the crisis as well.

The roll-on effect has seen businesses cruelled by growing costs like electricity and rate rises, coupled with a downturn in customers as people continue to find new ways to make their stretched budgets go further.

We revealed today that 49.3 per cent of micro businesses in Queensland – with an annual turnover of less than $2m – were already struggling in 2020-21 before the 12 rate rises and the surge in electricity prices hit.

Small business people are the true heroes of the Queensland economy. They put their own money up to back their dreams, emboldened not only by confidence in themselves but a belief that this is the state that can make those dreams a reality.

It is hard to argue with coffee king and Brisbane business leader Phillip Di Bella who has called on all levels of government to get to work in supporting these struggling companies.

He’s suggested a range of ideas including 12-month payroll tax concessions, an overhaul of fringe benefits tax, easing up on council fees for outdoor dining and relaxing limits on hours worked by people on student visas.

“If we don’t fix this, we are not going to have business operators,” he said.

“Government wants to keep talking but they don’t have to have all the answers. They need to engage with us.”

The flow-on if these businesses were to collapse would be diabolical. People would be without jobs, unable to pay bills and putting more pressure on an already stretched welfare system.

It makes sense to offer practical measures to help these businesses through a tough time.

Business Chamber Queensland CEO Heidi Cooper said there wasn’t much optimism in the state’s economic future.

“Businesses are currently facing the combined impact of high operating costs, high labour and insurance costs, high interest rates and reduced consumer spending which mean they’re less optimistic in the state and nation’s economic future,” she said.

“We’ve been seeing these macroeconomic challenges impact business confidence for the past year.”

The state can ill afford to have such a pessimistic outlook from small business, less than a decade out from the Brisbane Games.

This is a time when Brisbane and indeed the rest of Queensland should be pumping up our chest, saying we are open for business and that we encourage spending in the state.

No one is asking government for bailouts, or cash injections, but to simply ease some of the taxes and restrictions placed on them.

Of course, it’s not just governments who can aid small business.

By buying local, everyone in the community can help out.

MATILDAS ARE NO ONE-SAM BAND

The great thing about the Matildas’ run at the FIFA Women’s World Cup is we have learnt that the team is more than just superstar Sam Kerr.

The Chelsea striker is the face of the game and Australia’s greatest goalscorer, so when she was forced to pull out ahead of our opening game against Ireland, hearts sank.

A gritty win was followed by a disappointing loss to Nigeria, and there were calls to throw Kerr back into the action for the death-or-glory clash with Canada.

Fortunately, the calmer head of coach Tony Gustavsson prevailed and he was rewarded for the faith he showed in the Matildas squad, with a 4-0 win against one of the tournament favourites while keeping Kerr on the bench.

And while Kerr has been recovering, new fans have learnt about the talents of Mary Fowler, Hayley Raso, Steph Catley and a host of others.

But as we have exclusively revealed today, it is far from certain that Kerr will play in tonight’s Round of 16 match against Denmark, with vision taken from a helicopter at a Sydney training session showing Kerr cooling her heels (or her calf) on the sidelines.

The very fact that a media helicopter was sent up to spy on training – something usually seen in NRL grand final week – shows how this tournament has captured the public imagination.

The pressure to throw Kerr into the fray must be enormous, but we’re sure Gustavsson won’t take any risks with the star, who many think can take the Matildas all the way.

Responsibility for election comment is taken by Chris Jones, corner of Mayne Rd & Campbell St, Bowen Hills, Qld 4006. Printed and published by NEWSQUEENSLAND (ACN 009 661 778). Contact details here