April update from the Commissioner

It was great to see so many small businesses participate in NSW Small Business Month.  For many businesses it was the first opportunity to network in almost two years.  We heard some inspiring stories from small business owners and operators on how they have grown their businesses over that time.

There were more than 620 events and workshops for small business operators. These events provided important information, advice and support but also recognised the importance of small business to the NSW economy, our communities and employment.  Importantly, events conducted across the State during Small Business Month were designed by business for business.  I believe this was essential in providing high quality and focussed sessions.

Our recent surveys of small business sentiment indicate some modest improvement in business confidence.  However, customer numbers are still below normal for many businesses at this time of year.  I encourage you to again review the financial and other assistance available, including the NSW Government’s Small Business Support Package, for which applications have been extended to 29 April 2022. Under the package, eligible businesses can receive a minimum of $500 per week for the 4 weeks of February 2022 and up to $5,000 a week for employing businesses.

Rising costs are a major issue for many small businesses, so now is a good time to take a close look at what your business is paying for key inputs like electricity and telecommunications and see if you can get a cheaper deal. See our tips for easing the squeeze on your business.

There were also some measures in the March Federal Budget to help small businesses. I was pleased to see the Commonwealth cut business registry fees, something the Commission has been campaigning on. 

Chris Lamont