Luigi Wewege believes that the newly released budget from Australia’s treasurer Scott Morrison holds a great deal of promise for the startups that will surely be at the forefront of innovation for the next few decades. While the budget is certainly far from perfect, the incentives created as well as the tax breaks included in this new budget should at least inspire a degree of confidence among up-and-coming entrepreneurs in Australia.
Noting that there should be some thought to helping new businesses and startups quickly gain traction by removing some of the inherent obstacles already in place, those in charge of startups are nonetheless appreciative of the recognition in the budget that there is a tremendous advantage to simply being an established and sizable organization. Allowing this advantage to remain in place would have a negative impact on not only startups, but also on progress and innovation as a general concept.
For Australian businesses to lead the world in innovation, startups that challenge the status quo and drive meaningful change should not be deterred when it comes to establishing a strong and permanent foothold in the marketplace. The new budget released by the treasurer represents a step in the right direction, but it is still clear that there is much more to be done in the name of progress for startups seeking to innovate the manner in which Australia does business.