New program to help grow commercial fishing in NSW

Published 27th February, 2017 in Economy

A new subsidised share trading market will open, after an inquiry into the NSW commercial fishing sector. 

Australian fishermen unloading seafood in Sydney

The NSW Commercial Fisheries Business Adjustment Program will allow commercial fishers across the state to grow and invest in their businesses.

Following feedback from commercial fishers:

  • The government will establish an independent commercial fisheries sector advisory council to the Minister for Primary Industries - Commfish NSW
  • A Chair will be quickly appointed to oversee the establishment of the new Commfish NSW
  • The Office of the Small Business Commissioner is now available to help ensure small commercial fishing businesses are adequately supported during the reforms
  • Share linkages have been extended until December 2017
  • The subsidised share trading market will start in May 2017. Once this market has closed, fishing business owners will have five months to adjust their businesses before the linkages commence in December.

NSW Minister for Primary Industries, Niall Blair said the recommendations in the Upper House inquiry report into the NSW commercial fisheries sector are an important step in improving the fishing industry’s economic viability.

“There is a clear signal from the report that it’s time to get on with the job at hand and at the same time assist the industry and individual businesses transition into the new arrangements,” Mr Blair said.

All commercial fishers are being encouraged to register for the subsidised share trading market to ensure they benefit from the $16 million adjustment package.

Registrations are now open for the subsidised share trading market

Published 27th February, 2017 in Economy