Small business on the rise

Comprising 95 per cent of enterprise in the state, the future of small business seems unexpectedly bright.

NSW Small Business Commissioner Yasmin King said: “I think you’ll see small business increase, because so many people who are in middle
management and losing their jobs at Fairfax and in banks, guess what they are going to do? Open a small business.

“I don’t think there is any chance soon that small businesses will be declining, which is why we need to make sure we do more, so when they
start, they are sustainable.”

In her position, Ms King tackles three main areas: mediating between small business and corporate companies or government; lobbies for change in policy; and procures services for businesses.

After a successful listening round across the state, where 550 businesses met Ms King, she is holding another. It is an opportunity for small business operators to meet the Commissioner directly and put
forward what they think the role needs, which would best help them in business.

“We’re getting their [small business operators’] input on legislation. On the basis of what they suggest, we will make a recommendation to government as to what we think needs to be in legislation.

“The government’s agenda was to say we want you to start and then to determine what you need to best do the job,” Ms King said. She has been
Small Business Commissioner since August and prior Ms King was associate commissioner for the ACCC and had a consultancy and retail business.

Ms King is also proposing a service where there will be over 40 advisors across NSW, providing assistance to small business.

Linda Sultmann of White Room Group, a business management consultancy
specialising in small business, said: “There is a tonne of knowledge and information out there, but… [small business operators] need hands on help and education to be able to apply this in their business.

“The entrepreneurial spirit in Australia is strong. Small
business is still the most effective way to generate wealth…and it gives people the greatest opportunity for creativity and self-fulfilment.”

The listening round in Sydney will be on July 3 at NSW Trade and Investment Centre.