COVID-19 has meant that more and more businesses are prioritising their online presence and the government wants to support this change. The government is set to allocate $800 million which will be spent on helping businesses grow their digital capabilities.
The intention behind the Digital Business plan is to utilise this digital transformation to drive productivity and income growth for businesses. The government hopes that supporting businesses in venturing into online mode of delivery will help boost the economy.
The government is also making changes to the way businesses register online. Over $250 million has been allocated to expand the government’s digital identity program. This will make it easier for businesses to register and start their businesses, set to take as little as 15 minutes.
The PM has stated that the government plans on removing out-dated methods which are creating barriers during this period, and replacing them with technology that can boost the capacity of small businesses to help economic recovery.