Scott Morrison has promised to start a $100 million business growth fund and create 250,000 new small businesses.

The Coalition hopes the fund will reach $1 billion in five years, with hopes banks and superannuation funds will invest money into it.

The Australian Small Business and Family Enterprise Ombudsman Kate Carnell tells Ross Greenwood they recommended the initiative.

“There is a group of small to medium businesses that are high growth potential, these are the ones that are likely to become the big businesses of tomorrow.

“It’s a fund managed by a private operation, it’s not government handouts of money.”

Click PLAY to hear the full interview