The federal government will commit nearly $15 million in funding to mental health support and debt counselling for small business owners in the upcoming federal budget.
On Wednesday, Minister for Small Business Julie Collins announced the government will direct $10.9 million towards the NewAccess for Small Business Owner program, operated by BeyondBlue.
The telehealth program partners small business professionals with trained mental health professionals with backgrounds in the SME space.
NewAccess for Small Business Owners provides up to six structured sessions, with no GP referral or mental health plan required to take part.
The program, which received $4.3 million in federal funding in 2020 before a $4.6 million top-up in January this year, is slated to assist nearly 4,700 small business owners in 2022 alone.
The top-up comes during a punishing time for small business operators, many of whom are battling staff shortages, soaring costs, and the prospect of tumbling consumer sentiment in the months ahead.
“We know our small businesses have been doing it tough,” Collins said in a statement.
“They’ve stared down years of floods, fires, and a global pandemic, and are now facing a tight labour market and rising inflation.”
Of the new funding, $4 million will go towards the Small Business Debt Helpline, a free-to-use service offered by Financial Counselling Australia.
The helpline connects SME participants with independent advice on how to manage debt, irrespective of each caller’s particular financial hardship.
The Australian Small Business and Family Enterprise Ombudsman, a joint participant with BeyondBlue on NewAccess for Small Business Owners, said both the mental health and debt counselling support services will greatly benefit small business operators.
“For small and family business owners, their business is not just their livelihood but a fundamental part of their life,” Ombudsman Bruce Billson said.
“It is vital small business owners have support and know that help is available if they need it.”
With Treasurer Jim Chalmers suggesting the government’s October 25 financial roadmap will serve as a “wellbeing budget”, Collins said the health and security of SMEs is a priority.
“Small business has been at the centre of the Albanese Government’s decision making, and we want to help them improve their long-term resilience and help them bounce back following significant challenges in recent years,” she said.
If you or someone you know is at risk of harm, call Lifeline now on: 13 11 14
You call also contact Beyond Blue on 1300 22 4636; Headspace on 1800 650 890; or The Suicide Call Back Service on 1300 659 467.
Or, contact Beyond Blue’s COVID-19 support line on 1800 512 348.
Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
