Small Business Development Fund

Mr GEE (Napier) (14:36): My question is to the Minister for Small Business.

Mr Pengilly: Give them one of yours, not one of theirs.

Mr GEE: Clean coal. Can the minister advise the house on outcomes for round 5 of the Small Business Development Fund program?

The Hon. M.L.J. HAMILTON-SMITH (Waite—Minister for Investment and Trade, Minister for Small Business, Minister for Defence Industries, Minister for Veterans' Affairs) (14:36): I thank the member for his question. He represents a lot of small businesses in the north. That's why I am happy to announce the outcomes for round 5 of the Small Business Development Fund, a $10 million program which the government implemented in the 2016 budget. The house will recall that this program targets businesses in the Playford, Port Adelaide Enfield and Salisbury districts.

Applications for round 5 closed on 17 January 2017. There were 31 applications received. The start-up business grants, which are grants of up to $20,000 and are available to new businesses on a one-for-one matched basis, were offered. Six start-up grants were awarded, totalling $87,250, to the following businesses: 3RD Eye Analytics, $14,000; Clique Travels Pty Ltd, $20,000; Derek & Sam Pty Ltd, $20,000; Forge Mill CNC Machining, $18,500; NY Handyman and Cleaning Services, $11,000; and The Athletic Compound, $3,750.

The Business Expansion Grants, which are grants of between $10,000 and $100,000, are available on a one-for-one matched funding basis. There were five expansion grants approved in this round, totalling $347,981, to the following businesses: Adelaide Weighing Equipment, $100,000; Bullet Cylinder Heads, $100,000; QPE Fabrication Pty Ltd, $85,481; SA Insulation Pty Ltd, $15,000; and Surman Metals, $47,500.

As at 22 February 2017, 35 start-up and 41 business expansion grants, totalling over $3.3 million, have been approved ($3,355,000 plus GST). Based on the grants awarded to date, it is anticipated that 253 new full-time equivalents will be created within 12 months. Actual job creation will be reported 12 months after the conclusion of each round. Extensive consultation with industry groups was undertaken in the design of the program, which will support acceleration of business and jobs growth in northern Adelaide. Round 6 applications are still open. I would encourage businesses to apply—they close on 14 March—and I look forward to updating the house on the outcomes of subsequent rounds.