Treasurer Joe Hockey’s second budget has gone over well with small businesses, with close to 60 per cent backing the government’s $5.5 billion support package.

The package was predictably most popular with businesses that will reap the benefits of the government’s tax cuts and incentives, though larger businesses were less enthusiastic.

Under the small business package, businesses with turnover of less than $2 million will be able to immediately write off the value of assets worth less than $20,000.

Incorporated small businesses will also receive a 1.5 per cent tax cut, while unincorporated businesses with receive a five per cent tax discount.

Of those covered by the package, 58 per cent said the budget will have a positive effect on business, according to research by DBM consultants.

But, perhaps surprisingly, 27 per cent said the government had not done enough for small businesses.

The budget was less popular among those with a turnover greater than $2 million, with only 41 per cent saying it will be good for business.

Still, DBM director, Maria Claridad, said the budget had been well received overall by small businesses.

“This budget appears to have had the desired effect with small businesses, with the majority of these organisations appreciating what it is likely to do for them,” she said.

Retailers were the most positive about the budget, with 68 per cent saying it would have a positive effect on their business.

AAP