The Federal Government is rolling out a coordinated support package – including a $1 billion business fund – to help businesses tackle the growing cost pressures associated with the Middle East crisis.
Global uncertainty continues to impact fuel prices, supply chains and cash flow, and Western Australian businesses and consumers are feeling the pinch.
$1 billion Economic Resilience Program fund
The Federal Government has announced a $1 billion economic resilience fund to support businesses impacted by the fuel crisis, with a focus on maintaining supply chains and easing cost pressures. The funding will be delivered through interest-free loans to sectors that are critical to keeping the economy moving such as manufacturing, freight, fuel and fertiliser distribution.
More flexibility on tax obligations
CCIWA CEO Will Golsby (left) and CCIWA Chief Economist Dr Daniel Kiely (right) with Small Business Minister Dr Anne Aly
The ATO is offering temporary relief measures to help businesses struggling to meet tax obligations due to rising costs or supply disruptions, including:
- Flexible payment plans
- Remission of interest and penalties
- Adjustments to PAYG instalments where income has dropped
- Paused or reduced compliance action in heavily impacted industries
There will also be a dedicated ATO support channel for assistance. Businesses can also contact their registered tax professional to request access on their behalf.
Easier access to finance
The Government has extended key lending exemptions for small businesses to make access to credit easier.
Banks and lenders are offering:
- Loan restructuring
- Payment deferrals
- Temporary credit increases
Small Business Minister Dr Anne Aly said the new measures would help provide more flexibility in these “extraordinary circumstances”.
“We will help small businesses access easier and faster credit by extending the Small Business Responsible Lending Obligation exemption for a further 10 years,” she said.
“This will ensure small businesses aren’t slugged with additional regulatory burdens and delays when accessing loans.
“We urge customers experiencing financial hardship to reach out to their bank, energy retailer, telecommunication provider and insurer to see what support is available.”
Support from banks, insurers and suppliers
Industry groups and some major businesses are committing to:
- Faster payments to suppliers to improve cash flow
- Adjustments to reflect rising input costs (such as fuel)
- Hardship support like bill deferrals and payment plans
- Insurance support, including potential premium adjustments
How small businesses can respond
Here are a few practical steps businesses can take to help weather the storm:
- Review your contracts: Ensure key clauses (like force majeure, pricing and termination) reflect current risks
- Stay on top of cash flow: Take advantage of ATO flexibility and speak early with lenders or suppliers
- Document decisions and agreements: This is critical if disputes arise
- Address issues early: Whether it is employee concerns or supplier challenges, early action can prevent escalation
How CCIWA can help
You don’t have to navigate cost pressures, supply disruptions and workforce challenges alone.
CCIWA can provide your business with expert, practical support:
- Employee Relations Helpline – Get fast, confidential advice on managing workforce issues, from stand downs and leave arrangements to restructuring and compliance with workplace laws. Contact: 08 9365 7660 or [email protected].
- Business Law WA – Access legal expertise to review commercial agreements (including force majeure, pricing and contract variation), manage disputes and investigations, and representation in the Fair Work Commission and courts. Contact: 08 9365 7746 or [email protected].
- International Trade Services – Strengthen your resilience to global disruption with support on cost and risk management, export diversification, trade documentation and navigating shifting international conditions. Contact: 08 9365 7620 or [email protected].
- Industry Capability Network (ICNWA) – Connect with local suppliers, uncover new supply chain opportunities and build more resilient, localised procurement pathways. Contact: 08 9365 7623 or [email protected].
If your business is feeling the impact, now is the time to seek advice early and put the right strategies in place.
