The NSW economy and NSW business confidence is the strongest in Australia and this strategy will continue to build on the solid foundation of opportunity in areas of the greatest need, encouraging investment, upskilling, entrepreneurism and jobs growth to position NSW businesses well into the future. The NSW Small Business Strategy is a commitment from the NSW Government to small businesses, and explains where priority support will be provided to ensure that small businesses get a start and the opportunity to grow and innovate.

Following are the key initiatives outlined in the strategy.

Exploring opportunities for further taxation relief to encourage small business growth

The NSW Government understands that taxation requirements can put a burden on small businesses, making it difficult to grow and create jobs.

The strategy outlines the NSW Government’s commitment to continuing the conversation around taxation relief for small businesses.

Investing in new skills for business

Establishing and running a business involves a range of skills, not only for business owners, but also for employees.

The NSW Government is providing $30 million to give business owners access to the education and training they need to grow their workforce. This funding will make training available for business staff, including trainees and apprentices.

Fact Sheet – Small Business Strategy Highlights

NSW Small Business Strategy

Approximately 68% of NSW small business owners are male and 32%are female3

32%

68%

of small business operators were born overseas3

32%4

The top NSW small business industries:

Professional scientific and technical services

Construction

15.4% 13%

Rental hiring and real estate services

11%

The Australian Government’s Department of Employment forecasts a long term structural move in employment towards service industries.

Projected employment growth areas include: health care and social assistance; professional, scientific and technical services; and education and training.

In 2015-16jobs growth in

regional NSW was stronger than for

all other regional areas in Australia combined

Small businessesdrivemetropolitan and regional economies

Over 20,000 of these small businesses were created in the year ending

June 2016, showing an increase of 3%, the largest increase in Australia across all

states and territories 4

3

Small businesses are the engine room for the thriving NSW economy

In total there are now over 710,000 small businesses in NSW, comprising almost

98% of all NSW businesses, which

employ almost 50% of the total

NSW workforce 1

34%

Of the state’s smallbusinesses

36% are generally located in regional NSW 2

NSW is home to 34% of all small businesses in Australia

Approximately 68% of NSW small business owners are male and 32%are female3

32%

68%

of small business operators were born overseas3

32%4

The top NSW small business industries:

Professional scientific and technical services

Construction

15.4% 13%

Rental hiring and real estate services

11%

The Australian Government’s Department of Employment forecasts a long term structural move in employment towards service industries.

Projected employment growth areas include: health care and social assistance; professional, scientific and technical services; and education and training.

In 2015-16jobs growth in

regional NSW was stronger than for

all other regional areas in Australia combined

Small businessesdrivemetropolitan and regional economies

Over 20,000 of these small businesses were created in the year ending

June 2016, showing an increase of 3%, the largest increase in Australia across all

states and territories 4

3

Small businesses are the engine room for the thriving NSW economy

In total there are now over 710,000 small businesses in NSW, comprising almost

98% of all NSW businesses, which

employ almost 50% of the total

NSW workforce 1

34%

Of the state’s smallbusinesses

36% are generally located in regional NSW 2

NSW is home to 34% of all small businesses in Australia

Approximately 68% of NSW small business owners are male and 32%are female3

32%

68%

of small business operators were born overseas3

32%4

The top NSW small business industries:

Professional scientific and technical services

Construction

15.4% 13%

Rental hiring and real estate services

11%

The Australian Government’s Department of Employment forecasts a long term structural move in employment towards service industries.

Projected employment growth areas include: health care and social assistance; professional, scientific and technical services; and education and training.

In 2015-16jobs growth in

regional NSW was stronger than for

all other regional areas in Australia combined

Small businessesdrivemetropolitan and regional economies

Over 20,000 of these small businesses were created in the year ending

June 2016, showing an increase of 3%, the largest increase in Australia across all

states and territories 4

3

Small businesses are the engine room for the thriving NSW economy

In total there are now over 710,000 small businesses in NSW, comprising almost

98% of all NSW businesses, which

employ almost 50% of the total

NSW workforce 1

34%

Of the state’s smallbusinesses

36% are generally located in regional NSW 2

NSW is home to 34% of all small businesses in Australia

1Australian Bureau of Statistics publication, 8165.0, Counts of Australian Businesses, including Entries and Exits, Jun 2011 to Jun 2015. Small businesses are 1-19 employees. 2Approximately 36% of small business operators live outside the Sydney Greater Metropolitan Region (ABS, Census 2011, latest available). 3Australian Bureau of Statistics, Cat. No. 6291.0.55.001, Labour Force, Australia, Detailed - Electronic Delivery, October 2016.

Creating fair procurement opportunities

The NSW Government invests in infrastructure each year, procuring goods and services from local small businesses in both metropolitan and regional NSW.

To help businesses get fair consideration, procurement advisory support will be available when small businesses apply to work on government projects, helping increase their success rate.

Enabling better access to cash flow and capital

Cash flow and capital is critical to small businesses and the NSW Government is working hard to ensure businesses know how to access the finance they need to grow and create jobs.

The government will establish an Access to Finance Advisory Program to help educate small businesses in financial literacy and navigate the new financial services ecosystem.

The NSW Government will also continue working with the federal government to examine payment times and where fairer practices can be applied in NSW.

Making it easier to start a business

Red tape reduction and simplified regulation is a key priority for the NSW Government to ensure NSW remains the number one place to start a business.

The Easy to do Business initiative will be rolled out across NSW and the WeAgree program will digitise all stages of the business contract lifecycle from negotiation to termination, including a mechanism for early support with dispute resolution.

Providing tools to build resilient businesses

In an age of rapid digital growth, small businesses are encouraged to manage change in order to take advantage of new opportunities presented by technology and other forms of disruption.

The strategy outlines the NSW Government plans to deliver a Connecting Country Communities Fund to deliver regional communications infrastructure as part of the new $1.3 billion Regional Growth Fund, as well as a new Building Business Resilience initiative to help businesses prepare for the future.

industry.nsw.gov.au/smallbusiness

Find out more

smallbusiness@industry.nsw.gov.au

Fact Sheet – Small Business Strategy Highlights

NSW Small Business Strategy

3Australian Bureau of Statistics, Cat. No. 6291.0.55.001, Labour Force, Australia, Detailed - Electronic Delivery, October 2016. 4Australian Bureau of Statistics publication, 8165.0, Counts of Australian Businesses, including Entries and Exits, Jun 2011 to Jun 2015. Small businesses are 1-19 employees.

Approximately 68% of NSW small business owners are male and 32%are female3

32%

68%

of small business operators were born overseas3

32%4

The top NSW small business industries:

Professional scientific and technical services

Construction

15.4% 13%

Rental hiring and real estate services

11%

The Australian Government’s Department of Employment forecasts a long term structural move in employment towards service industries.

Projected employment growth areas include: health care and social assistance; professional, scientific and technical services; and education and training.

In 2015-16jobs growth in

regional NSW was stronger than for

all other regional areas in Australia combined

Small businessesdrivemetropolitan and regional economies

Over 20,000 of these small businesses were created in the year ending

June 2016, showing an increase of 3%, the largest increase in Australia across all

states and territories 4

3

Small businesses are the engine room for the thriving NSW economy

In total there are now over 710,000 small businesses in NSW, comprising almost

98% of all NSW businesses, which

employ almost 50% of the total

NSW workforce 1

34%

Of the state’s smallbusinesses

36% are generally located in regional NSW 2

NSW is home to 34% of all small businesses in Australia

Approximately 68% of NSW small business owners are male and 32%are female3

32%

68%

of small business operators were born overseas3

32%4

The top NSW small business industries:

Professional scientific and technical services

Construction

15.4% 13%

Rental hiring and real estate services

11%

The Australian Government’s Department of Employment forecasts a long term structural move in employment towards service industries.

Projected employment growth areas include: health care and social assistance; professional, scientific and technical services; and education and training.

In 2015-16jobs growth in

regional NSW was stronger than for

all other regional areas in Australia combined

Small businessesdrivemetropolitan and regional economies

Over 20,000 of these small businesses were created in the year ending

June 2016, showing an increase of 3%, the largest increase in Australia across all

states and territories 4

3

Small businesses are the engine room for the thriving NSW economy

In total there are now over 710,000 small businesses in NSW, comprising almost

98% of all NSW businesses, which

employ almost 50% of the total

NSW workforce 1

34%

Of the state’s smallbusinesses

36% are generally located in regional NSW 2

NSW is home to 34% of all small businesses in Australia

Approximately 68% of NSW small business owners are male and 32%are female3

32%

68%

of small business operators were born overseas3

32%4

The top NSW small business industries:

Professional scientific and technical services

Construction

15.4% 13%

Rental hiring and real estate services

11%

The Australian Government’s Department of Employment forecasts a long term structural move in employment towards service industries.

Projected employment growth areas include: health care and social assistance; professional, scientific and technical services; and education and training.

In 2015-16jobs growth in

regional NSW was stronger than for

all other regional areas in Australia combined

Small businessesdrivemetropolitan and regional economies

Over 20,000 of these small businesses were created in the year ending

June 2016, showing an increase of 3%, the largest increase in Australia across all

states and territories 4

3

Small businesses are the engine room for the thriving NSW economy

In total there are now over 710,000 small businesses in NSW, comprising almost

98% of all NSW businesses, which

employ almost 50% of the total

NSW workforce 1

34%

Of the state’s smallbusinesses

36% are generally located in regional NSW 2

NSW is home to 34% of all small businesses in Australia