Australian PM pledges $1b SME growth fund – Australian Financial Review

As the Australian Federal election will be held on May 18, Aussie lawmakers are tightening their belts to please the domestic voters. The Australian Financial Review recently came out with a news report claiming that Prime Minister Scott Morrison will today pledge to help create 250,000 new small businesses over the next five years, and will also unveil a equity plan to help a small number of existing small and medium businesses expand.

The scheme will be similar to what’s already being observed in the UK and Canada and will use $100 million as government seed money.

It should be noted that the Aussie markets will be open today with its full force after the Easter holidays resulted in long weekend.