NSW Small Business Strategy 2023-26

Working together we have made a difference

Image of man and lady standing in warehouse laughing and talking

The NSW Government is continuing to increase investments for the future to provide important opportunities for small business to start, grow and thrive. Since 2011, this Government has: 

  • Invested $178 billion in critical infrastructure to support small businesses - including transport for customer and freight access, and energy.
  • Supported the pipeline of ‘work ready’ staff for small businesses - through investing over $1.05 billion in around 575,000 fee-free traineeships, apprenticeships and enrolments in other vocational education and training programs,xii and advocating for the increase to the permanent migration program (195,000 places nationally in 2022-23).
  • Boosted small business skills and capability - by supporting 49,310 small businesses through the Business Connect program (including 55% located regionally, and over 1,000 owned by Aboriginal or Torres Strait Islander people).
  • Enabled a significant shift to digital and streamlined transactions - through 585,744 Service NSW for Business Profiles and 652,258 business entities linked to Business Profiles.
  • Provided unprecedented sector support through natural disasters and the pandemic - including:
    • $7.15 billion in JobSaver payments
    • $4 billion in small business and micro-business grants
    • $587 million in Dine & Discover vouchers, resulting in $977 million spent across 16,700 businesses, at an average spend per voucher of $41xiii
    • $124.9 million in Parents vouchers at an average spend per voucher of $115xiv
    • The $250 million Bushfire Local Economic Recovery Fund, supporting job retention and creation, and reducing the impact of future natural disasters on communities and businesses
    • The $150 million Primary Industry Support Package, providing funding to businesses disrupted by the February 2022 floods to rebuild and recover.
  • Cut red tape - by replacing monthly payroll tax returns with single annual returns for payroll tax liabilities up to $20,000 annually, and enabling digital applications for all NSW Government licences.
  • Expanded access to new markets - through Global NSW’s program supporting food, technology and medical technology exports, across nearly 30 targeted programs.
  • Formalised the role of the NSW Small Business Commissioner in the Small Business Commissioner Act 2013 as the independent advocate for small business.

Since the last Small Business Strategy was released in 2017, the NSW Government has invested in and delivered significant actions and reforms to support the sector.

Exploring opportunities for further taxation relief to encourage small business growth

The NSW Government has reduced the tax burden on small business:

  • Raising the payroll tax threshold to $1.2 million making more businesses no longer liable for payroll tax - Revenue NSW (1 Jul 2020).
  • Reducing the payroll tax rate to 4.85% as part of the COVID response - Revenue NSW (2020-21 and 2021-22).
Investing in new skills for business

Small business is a major employer, including of trainees and apprentices who are developing their skills. NSW has supported the pathway from education to traineeships and employment.

  • Regional Industry Education Partnerships – Education (2018).
  • Subsidised training, through the Small Business Recovery program - TAFE NSW & Small Business Commissioner (2020).
  • Fee-free traineeships & apprenticeships - Education (Jan 2020).
  • Women in Business program - TAFE NSW (Nov 2021).
  • Automatic Mutual Recognition of Occupational Mobility Scheme – Treasury (Jul 2021).
Creating fair procurement opportunities

NSW Government purchases around $30 billion of products and services every year. Key actions are making it easier for NSW Government to work with small business.

  • Aboriginal Procurement Policy - Treasury (Jul 2018).
  • buy.nsw and the NSW Supplier Hub - Customer Service (Digital NSW) (2019).
  • Raising the thresholds for a single quote, through the Small and Medium Enterprise (SME) and Regional Procurement Policy - Treasury (Jul 2021).
  • Tender Support Program - Small Business Commissioner & TAFE NSW (Oct 2021).
  • Innovation Procurement Pathway - Customer Service (Digital NSW) (late 2022).
Enabling better access to cash flow and capital

Improving access to capital and managing cash flow is vital to the successful operation of small business.

  • Faster Payment Terms Policy - Small Business Commissioner & Treasury (Dec 2018).
  • Small Business Shorter Payment Terms Policy - Treasury (1 July 2021).
  • SME Recovery Loan Scheme - Treasury (2020 to Jul 2022).
Making it easier to start a business

NSW agencies are supporting business owners to start, run and grow their business, including to adapt and recover in times of crisis.

  • Business Concierge - Customer Service (2019).
  • Multicultural Business Connect Advisory Services - Customer Service (2020).
  • Service NSW for Business Profile - Customer Service (Jul 2020).
  • Going Global Export Program - Investment NSW (Aug 2020).
  • Women in Business Hub - Customer Service (Sep 2022).
Providing tools to build resilient businesses

Resilience is about small business owners managing and adapting in unexpected and difficult situations, from cybersecurity threats to natural disasters. NSW Government has provided support in several areas.

  • Business continuity plan and disaster recovery resources - Small Business Commissioner (2020).
  • Industry Partnership Program - Customer Service (2021).
  • Mentally Healthy Workplaces - SafeWork NSW (2021).

Case study: Innovation to reduce workplace injuries results in small manufacturing business supplying to local government

Image of parcels on a conveyor belt in warehouse

Having experienced long-term  work-related injuries from  exposure to equipment vibrations, Deon from Cameron Park designs and manufactures Anti-Vibration Handles. 

Deon has benefited from receiving independent, tailored advice from Business Connect, including  coaching to negotiate with  potential clients and suppliers, and help with developing proposals for funding opportunities. Deon has now been able to supply to local government. 

About the data

xii. Includes JobTrainer and TAFE Fee Free courses and training co-funded by the Commonwealth.

xiii. Service NSW COVID-19 dashboard as at 23 September 2022.

xiv. Service NSW COVID-19 dashboard as at 23 September 2022.

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Download NSW Small Business Strategy 2023-26 PDF 7.86MB Current as of Thursday, 02 March 2023.
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