Leading non-bank business lender, ScotPac says the Federal Budget presents a mixed bag for small businesses.

ScotPac CEO, Jon Sutton said small businesses will welcome some budget initiatives, including $62.6 million fund for energy efficiency upgrades to reduce energy use and lower bills.

However, the decision not to extend temporary full expensing for business investments beyond 2023 would be disappointing for some SMEs looking to upgrade capital equipment for the longer term.

“We know from responses to our most recent ScotPac SME Growth Index in September that there is a high degree of volatility in forecast revenue for Australian SMEs.

“While more than half of small and medium sized businesses predicted positive revenue growth, one in four said revenue was likely to decline by an average of 8% over the next six months – the worst growth forecast in the history of the SME Growth Index.

“With the budget acknowledging a surge in energy bills over the coming year, SMEs will welcome the $62.6 million fund to help them invest in energy efficient upgrades to boost efficiency, lower emissions, or smooth out power demand.”

Mr Sutton said SMEs making longer term capital investment decisions require certainty and many SMEs would have welcomed an extension of the instant write-off policy (temporary full expensing) for at least another three years.

“SMEs making longer term capital investment decisions require certainty and the extension of the instant write-off policy for at least another three years would have been welcomed by SMEs in that category.

“Small businesses will need to carefully assess their funding options for business investment to ensure they can meet the looming economic challenges which have been outlined in this budget.

ScotPac has been assisting business owners at all stages of their growth and all points of the economic cycle for more than 30 years.

“From start-ups looking to build steadily from a small base, to established businesses seeking to diversify, we have the breadth of product to help more businesses in more situations than any other non-bank lender,” Mr Sutton said.

ScotPac is Australia and New Zealand’s largest non-bank SME business lender, providing funding to small, medium and large businesses from start-ups to enterprises exceeding $1 billion revenues. For more than 30 years ScotPac has helped thousands of business owners succeed, offering fast and flexible funding. From simple to complex, small to large, start up, growth or turnaround – ScotPac can help with a range of funding from Invoice, Trade or Asset Finance to Home Loans and Business Loans.


For more information contact:


Todd Hayward
Mob: 0412 205 151
[email protected]

Martin Cole
Mob: 0403 332 977
[email protected]