An extra layer of support has been added to help small businesses survive in an increasingly difficult landscape, with the federal government announcing $15 million to fund mental health and financial counselling support for small businesses ahead of next week’s federal budget.

The new funding is aimed at alleviating the challenges that are unique to small businesses owners, where work life is generally more difficult to separate from the personal. 

The Australian Small Business and Family Enterprise Ombudsman Bruce Billson said that support in both financial and wellbeing capacities is vital for the survival of small businesses. 

“Their identities are interwoven into their business and the stakes are so much higher than just a job. Many people have invested a lifetime, and in some cases their family home, into building up their business, which amplifies the emotional challenges,” Mr Billson said. 



The $15 million will be funnelled into two different services, including $10.9 in extra funding for the New Access for Small Business Owners program operated by Beyond Blue, and $4 million for the Small Business Debt Hotline operated by Financial Counselling Australia. 

The Beyond Blue program will offer free one-on-one telehealth sessions with specially trained mental health coaches providing evidence-based advice on strategies for managing stress. 

“The success of the New Access for Small Business Owners program is built on it being delivered by coaches who have experience in small business. Being able to speak to someone who understands the mental load of running a small business makes a big difference,” Mr Billson said.

The Small Business Debt Helpline provides financial counselling support, particularly for small business owners who have loans secured against the family home and are uncertain about their future. 

“For small business owners the stakes can be incredibly high and losing the business often means also losing the home,” Mr Billson said. 

“Small and family business owners are literally exhausted. There has been no reprieve from the rolling natural disasters such as floods, bushfires and drought and the lingering effects from COVID-19 and the various lockdowns and restrictions,” Mr Billson said. 

“Small businesses are struggling to make rosters work and keep doors open due to labour and skills shortages; grappling with supply troubles that means critical inputs, goods and services are not always available; adjusting to higher inflation then many have experienced; rising interest rates; and on edge about cyber security fears,” he said. 

The federal budget will be delivered by the new Labor government next Tuesday night. 

Wellbeing assistance for business owners can be found at Beyond Blue while the Small Business Debt Helpline is available by calling 1800 413 828.