Tasmania’s 2025–26 Budget is out, and if you run a small or medium business, there is a lot to take in, and a lot to gain.
With 97 percent of Tasmanian businesses classified as small, the government has made it clear: SMEs are central to the state’s economic future. Framed as part of the broader 2030 Strong Plan for Tasmania’s Future, the budget introduces a mix of new strategies, practical support, and infrastructure investment aimed at making it easier to start, run, and grow a business here.
Whether you are a local producer, tech startup, retailer, or part of the hospitality scene, here are five key things you need to know.
1. Starting up just got easier
Tasmania wants to become the startup capital of the country, and it is putting real money and planning behind that goal. A new Small Business Growth Strategy, developed alongside the Tasmanian Chamber of Commerce and the Small Business Council, will offer more accessible support for entrepreneurs at every stage. A few highlights include an extended New Business Support Program offering free advice for startups, and a 12-month trial of a Start-Up Permit that allows businesses to test ideas without being buried in red tape.
Add to that a Red Tape Reduction Portal and a 24/7 Online Business Advice Platform, and it is clear that cutting complexity is the government’s priority. If you have a new idea or business model to test, Tasmania is making it easier than ever to get going.
2. Innovation is getting a physical home
For high-growth and tech-driven businesses, the budget delivers on building innovation-focused infrastructure too. Innovation Hubs in Hobart and Launceston will be funded to help startups get off the ground and stay here.
These hubs are designed to provide more than just co-working desks, they will offer mentorship, networking, and access to growth support. This is a move aimed at creating an ecosystem, not just a physical space, and signals the government’s commitment to keeping entrepreneurial talent local.
3. Exporting? You have a head start
Businesses looking to grow beyond Tasmania’s borders will benefit from a new 2030 Trade Strategy. Building on previous initiatives, this plan is all about helping businesses break into mainland and global markets.
An Inbound Visitation Program will connect Tasmanian producers and makers with international buyers, while a Multi-Year Trade Mission Schedule gives SMEs a clearer path to expanding their reach. Given that the state’s packed and processed food exports alone are worth more than $6 billion, this trade strategy could open doors for businesses in food, agri-tech, aquaculture, and beyond.
4. Primary producers are front and centre
If your business touches Tasmania’s agricultural sector, the budget brings long-term backing. With the goal of lifting the farmgate value of agriculture to $10 billion by 2050, the government is investing in productivity, sustainability, and risk reduction.
That includes a boost for the Tasmanian Institute of Agriculture, a new Agriculture R&D Fund, and updates to the Rural Water Use Strategy. There is also funding to support wild fallow deer management, helping protect crops and livestock. The message here is clear: farming businesses are seen as innovative, essential, and worth investing in.
5. Tourism and hospitality are getting a boost
With one in six jobs in Tasmania tied to tourism or hospitality, the budget continues to back these sectors with major investments. That includes $57 million for Tourism Tasmania to market the state internationally and $62 million to support events that bring people into towns and regions. There is also the Eat Local, Stay Local initiative, which will hand out 100,000 $100 vouchers to encourage locals to support Tasmanian hospitality businesses directly.
A long-term Hospitality 2030 Strategy adds career support, mental health programs, and workforce training all aimed at ensuring that small operators in the sector are not just surviving, but building lasting businesses.
More here.
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