October 2024 update from the Commissioner

As Small Business Month comes to a close, I’d like to thank all of our partners, guests and participants for their contributions to making this a successful series of events across the state. Small Business Month provides an important opportunity for small business across NSW to celebrate achievements, learn new skills and build connections to build business success.  It also provides an important reminder for the rest of the state of the importance of small business to our economy and communities. 

In October the Commission released our report: ‘'Rightsizing regulation’ which was informed by feedback received from more than 1,000 small business stakeholders. Our report provides findings and recommendations aimed at improving new regulation. A key finding of the report is that small business perspectives are not always taken into account when new regulation is designed. I encourage small businesses to stay across potential regulatory changes and participate in consultation to improve the quality of regulation. 

Following increasing concerns about illicit tobacco raised with my office, I commend the recent announcement of tougher penalties and enforcement for those selling illegal tobacco and in doing so supporting criminal cartels and their activities. I have strongly advocated for strengthened compliance and enforcement to address this issue for some time now and it good to see some action.

As bushfire season approaches, it’s essential that businesses have procedures in place to protect themselves. Even if you are not located in a fire-prone area, your business could still be affected. I urge businesses to use our free guide and create a solid business continuity plan to minimise risks as we approach this critical time of year.

I also encourage businesses to be aware of both the opportunities and risks associated with social media and digital platforms. My office continues to hear from businesses that have lost access to key accounts and have been severely impacted. While online platforms can be powerful tools for your business, they also require careful management to avoid potential pitfalls. It is prudent to diversify your operations and have a contingency plan in case you are locked out of a critical account.

Lastly, I’d like to remind small businesses of their final opportunity to register for TAFE's "Selling to the NSW Government" course. This invaluable program equips participants with the knowledge and skills needed to navigate government procurement processes effectively. If you miss out on this registration, the Commission will be launching our revamped course in November – keep a look out!