Written by Bella Rigley.

Produced for online by Leia Comegna.

Small businesses are crying out for support ahead of next week’s federal budget.

A $20,000 asset tax scheme could be on the chopping block and the government’s keeping tight lip on plans to grow the sector.

Ahead of the official budget reveal on May 8th, experts are calling out for the government to support this sector.

Chamber of Commerce and Industry Queensland Dan Petrie says the government needs to start investing in the future.

“If we don’t compete and we don’t start being part of that conversation, then businesses will start drifting off shore. They will go to the place where they will get the most favourable tax treatment,” says Petrie.

And he says silence should be replaced with committed action.

“The bottom line really is that you need to ensure that the heart of the economy, which is small / medium sized businesses, continues to beat and beat strongly,” says Petrie.

Franchise Council of Australia CEO Mary Aldred says the government should be offering more, not less, to small businesses.

“The best thing that the government can do is make a better, easier, more efficient operating environment for a lot of small businesses. Because small businesses are flat out running their own business. They often lack time and resources to take up opportunities that sometimes large businesses have the resources to do,” says Aldred.

She says with small business being the centre piece of many Australian communities, a blow to funding could have deeper effects.

“A lot of those small businesses are really embedded in their community. So the flow on economic impact weather they sponsor the local footy team or provide some funding or grants to local community groups, they are engaged. But across the board is so important,” says Aldred.

Small business is the engine room of Australia’s job economy making up 40 percent of employment, with 4.7 million people relying on it to ‘bring home the bacon’.

In Queensland alone there are 400,000 small business entities.

There’s talk the federal government might not be extending a current $20,000 SME tax scheme where small businesses can claim back vital assets tax free.

A MYOB study found 70 percent of Australia’s small business community want to see the government keep the tax benefit in play for another financial year.

Electric Barber Shop Brisbane owner Adrian Messina says his business would suffer if the government decides to stop the scheme.

“Defiantly put a dent in the bank. Depends what they replace it with. If they are going to replace it with something better, by all means. But that really sucks if they take it off the menu,” says Messina.

He says the move would be a clear message to not only small business owners but to everyone.

“You not just investing the small businesses, you are investing in the community,” says Messina.