The 2019 Federal budget, announced by Treasurer, Josh Frydenberg on 3 April is rightly described as a play for the next Federal election. More spending and tax cuts have been promised, and while these will of course be dependent on the re-election of the Government, projects such as Western Sydney Airport Rail Line and North South Rail Link are likely to receive significant funding no matter what the outcome.
NSW infrastructure boost.
The following projects have been promised an increase in funding in the budget.
- Princes Highway upgrade, $500 million
- Hawkesbury River third crossing, $200 million
- M1 Pacific Motorway extension to Raymond Terrace, $1.6 billion
- Western Sydney North-South Rail link, $3.5 billion
- Urban Congestion Fund, $254 million
Should your business tender for infrastructure projects?
With a boost in funding available for infrastructure projects, there is an opportunity for SME’s to take advantage and tender for contracts. There are hundreds of resources for finding tender opportunities and using a site such as Australian Tenders, can be helpful in finding the right opportunities for your business as well as the process.
For SME’s particularly, taking advantage of tendering opportunities can be daunting. But providing goods and services to the Government and the Public sector can be a big step forward and create a layer of economic certainty – particularly during periods of volatility.
One of the issues small businesses face in maximising opportunities is obtaining funding for growth. In the past, Apricity has been able to help clients at the tendering stage. In some cases, providing documentation to be included as part of the submission to demonstrate that funding is in place should the client be successful. Having a partnership with Apricity (as early as the tendering phase) can ensure your business is in a strong financial position, which could mean the difference between winning and losing a tender.
Click here to read our blog ‘Making the most of tendering opportunities’ including Tips to win! Talk to us today about how our Invoice Finance facility could help your business grow.