Scott Morrison makes first campaign visit to Adelaide ahead of May 18 Federal Election

Prime Minister Scott Morrison is making his first campaign visit to South Australia today, bearing gifts to grow small and medium businesses.

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Prime Minister Scott Morrison is making his first campaign visit to South Australia today, bearing gifts to grow small and medium businesses.

He will join Liberal candidates to shore up support in Boothby and Sturt.

He will also be trying to pinch the unlikeliest of victories in Mayo.

As the Coalition reinforces its business and economic credentials, it is promising to create 250,000 additional small and medium businesses over the next five years, if re-elected, with measures including a new $100 million investment to establish an Australian Business Growth Fund, which Mr Morrison will announce in Adelaide today.

Prime Minister Scott Morrison in Adelaide during live crosses to TV networks. Picture: Gary Ramage

South Australia has around 143,000 small businesses and Mr Morrison said more would be established through its measures including lower taxes, the expansion of its instant asset write off and cutting red tape.

“This is about creating opportunities for all those people with a great idea for a business just looking for a chance to have a go,” he said.

“Small business is the engine room of Australia and we pledge to back them.”

Mr Morrison comes to SA, the “comeback state”, on day 13 of the official election campaign. He is expected to visit the state’s most marginal seat of Boothby, where Liberal MP Nicolle Flint is fighting to hold on with a 2.8 per cent margin ahead of the May 18 poll.

He also will attend retired MP Christopher Pyne’s seat of Sturt with candidate James Stevens, and Mayo, where Liberal sources say the party is ready to write off a win by candidate Georgina Downer.

Mr Morrison said the Australian Business Growth Fund would deliver capital to small and family businesses to grow bigger and create more jobs.

“This is for those businesses like a local brewery or restaurant that wants to expand interstate or even overseas, or maybe a family owned construction company wanting to grow so they can meet demand,” he said.

The fund is expected to grow to $1 billion over the next three to five years, under a Coalition partnership with financial institutions.

The Government says it has had positive discussions with the Australian Prudential Regulation Authority about the fund and will attain private sector support if elected.

Between 30 to 50 businesses with annual turnovers between $2 million and $50 million are expected to receive support every year.

Labor has pledged 99 per cent of businesses will receive a tax cut, and that no businesses will have their tax rate increased.