Senate debates

Thursday, 27 February 2020

Bills

Australian Business Growth Fund Bill 2019; In Committee

1:28 pm

Photo of Jane HumeJane Hume (Victoria, Liberal Party, Assistant Minister for Superannuation, Financial Services and Financial Technology) Share this | Hansard source

This entire bill, this entire process, is about helping Australian owned small and medium enterprises to grow further, to reinvest in their own businesses and to employ other Australians. It's about providing a brand-new form of financing. It's financing that simply isn't available right now in Australia—long-term, patient capital that doesn't dilute those businesses' equity holdings. The fund isn't about to invest in businesses that need 'propping up', as you put it. In fact, we are looking for businesses that have a record of revenue growth and profitability, which is exactly what you would be looking for in a fund that intends to make a profit.

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