While the latest Business NSW survey shows small businesses across the state are being squeezed by rising costs, worker shortages and compliance pressures, the Minns Labor Government has axed a vital support service for small businesses.
In 2024-25, a record 7,643 businesses in NSW were forced into insolvency – a 26.2% increase in just one year.
The latest NSW Business Conditions Report shows it’s become harder than ever to run a business with:
• 97% of businesses struggling to lift productivity
• 65% of respondents identifying rising costs
• 42% pointing to a lack of skilled labour
• 41% saying regulatory demands were holding them back.
Nationals Member for Coffs Harbour Gurmesh Singh said the Minns Labor Government’s decision to axe Business Connect could be the last straw for many already struggling local small businesses.
“Business Connect provided free, practical advice to small businesses navigating compliance, planning and financial management,” Mr Singh said.
“It was one of the few lifelines available, and from 1 October it will be gone, with nothing to replace it.
“Small businesses are the backbone of communities like ours. They employ locals, sponsor local community organisations and sports teams, and create future opportunities for our kids and grandkids.
“But local operators tell me they’re being crippled by rising costs and now, with the loss of Business Connect, they’ll be left completely on their own.”
Mr Singh said a Nationals Government will bring back Business Connect.
