May 12, 2021
Treasurer Josh Frydenberg speaks to the media as he arrives to Parliament House in Canberra. Source: AAP Image/Mick Tsikas.
Last night’s federal budget gave us a whole lot to cover, both in terms of small business and startup initiatives. But between the digital economy plan, tax relief for SMEs and measures to boost employment, there were a few things missing.
Here are eight things we were looking out for that just didn’t materialise.
Support for women entrepreneurs
When it comes to encouraging entrepreneurship among women, the Women’s Budget Statement fell short of announcing any new support packages.
After first announcing it in the state budget back in November 2020, the Victorian government has revealed more details about its $10 million Women’s Angel Sidecar Fund, which is named after a local tech icon and will be open for applications from July.
In 2019, of the 104 Victorian startups that secured angel or VC investment, just 19 were led by women, a statement from the state’s startup agency, LaunchVic, said.
Operating as a so-called ‘sidecar’ fund, the scheme will see the state government take part in early-stage startup funding rounds. Their investment will make up a third of the total round, with private sector investors making up the difference.