Start-ups and fast-growing SMEs are being encouraged by the NSW Government to adopt a global export focus, not only to accelerate business growth but generate new jobs.
Speaking to an audience of start-ups, yesterday, at Haymarket HQ, a not-for-profit incubator in Sydney’s Chinatown, Deputy Premier and Minister for Small Business, John Barilaro said the state’s emerging businesses were in a perfect position to offer products and services to Asia. He told attendees that government doesn’t always have the answers when it comes to jobs growth, meaning partnerships with promising start-ups were critical.
In a statement preceding the event, minister Barilaro – a former small business owner – explained, “Trade exposure can unlock a cycle of productivity, income and jobs growth, and help businesses of any size meet the challenge of overseas competition.”
“Rising incomes, rapid urbanisation and changing lifestyles are driving consumption changes across Asia and over the past 10 years Australia has entered into free trade agreements which have reduced tariffs and opened market access across Asia.”
He added that providing greater access to early-stage funding would accelerate the growth of new jobs: “Over the past six years fast growing small and medium enterprises, which make up six per cent of NSW firms, have created more than one million new jobs for the State.”
Yesterday’s event was also attended by Jobs for NSW Chair, David Thodey, who advised start-ups that the private sector led board, which is delivering $190 million worth of financial support to start-ups and SMEs on behalf of government, is encouraging a ‘born global’ approach to business planning.
Meanwhile, Jobs for NSW CEO Karen Borg noted that financial assistance is available to start-ups and SMEs to help them access growth finance, and enable their capacity to export.
For further information, visit www.jobsfornsw.com.au