July 2024 update from the Commissioner

It has been great to meet so many businesses in regional NSW during the month. These visits have provided real insight into some of the challenges faced, the exciting entrepreneurial activity across the state and afforded a better appreciation of some of the areas businesses would like to focus on during NSW Small Business Month in October.  

One of the issues raised in discussions is a desire to hear more about the experiences of other small businesses in NSW.  The Commission surveys businesses each month to provide just that and you find out exactly what other small businesses are telling us in our June Momentum Survey. 

A challenging business environment has increased the number of business disputes. The Commission’s mediation service provides a cost-effective and efficient method for resolving disputes without lengthy and expensive legal proceedings. I am pleased to confirm the Commission has appointed a new mediation panel as part of our ongoing commitment to delivering a high-quality service.  

The CrowdStrike outage this month was a good reminder of the importance of continuity planning for small businesses. All operators should have a plan for navigating crises to ensure they can respond quickly and that their business stays resilient. 

The Commission also launched new fact sheets to assist when entering a retail lease. This guidance alerts to some of the key considerations before entering a retail lease and encourages parties to review the Retail Tenancy Guide and seek professional advice if they are unsure about their rights and obligations. The fact sheets were developed following stakeholder feedback and recommendations as part of the Retail Leases Act review.  

The Commission has also published a new guide to assist small businesses that use digital platforms. Digital platforms, including online marketplaces and services, can help businesses to enhance their online presence and reach new audiences. However, there can be challenges when using these services and our guide can assist to navigate common risks. 

Other useful information available to small businesses this month includes: 

• How to deal with unwanted charges and recurring payments for subscription based services 
• Investment incentives for small businesses including the instant asset write-offs and energy incentives 
• Options to review decisions if they disagree with ATO tax assessments.  

I encourage small businesses to take the time to review these resources as they have been developed based on the feedback and experiences of small businesses across NSW.