Small Business Month to boost economic engine room

Previewing Small Business Month in NSW, Damien Tudehope, Minister for Finance and Small Business, highlighted the potential of the events held across the month.

“Business owners will have the opportunity to connect with government and commercial enterprise that can provide them with products, services and thought leadership to help them start-up, grow and prosper,” said Tudehope.

According to the Minister, events will provide advice for small business owners covering business basics, disruption readiness, and social media marketing.

“The month-long initiative is also about celebrating the 765,000 small to medium-sized businesses that make up 44 per cent of the state’s workforce and drive our economy.”

With NSW accounting for the largest share of Australian small businesses, and employing 44 per cent of the private sector workforce, the month celebrates its third year.

Small business month was delivered in partnership with 113 councils and 43 collaboration partners in 2018. Partners included Google, Facebook, LinkedIn, and Australia Post.

The 2019 month is arranged around seven themes, that range from starting a business, digital futures, Aboriginal businesses, and women in business.

At the “Small Business: Big Vision” conference in Melbourne, held on September 4 and 5, IPA-Deakin SME Research Centre deputy director, professor Nicholas Mroczkowski, highlighted how small businesses were significant to the Australian economy.

“The greatest job creators in Australia are emerging businesses, especially those driven by technology and innovation. It’s not the BHPs or big banks. It’s the mum and dad family enterprises and the young entrepreneurs who are keeping this economy alive,” said Mroczkowski.

Mroczkowski noted that while federal government funding supports the growth of small businesses, its impact can be lost in administration.

“What we see now is a lot of money chewed up by state-level administration, with not much benefit to SME firms. These structural issues result in small business owners getting frustrated with the system and giving up.”