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- 26 September 2007
Small Business September 2007
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Dr ANDREW McDONALD: My question is directed to the Minister for Small Business and Regulatory Reform. Will the Minister update the House on small business activity in New South Wales?
The SPEAKER: Order! The House will contain its excitement.
Mr JOSEPH TRIPODI: It is good to see that there is enthusiasm about small business in this State. The small business community needs to be recognised for its hard work. From sole operators to businesses with more than 20 employees, to run a small business takes a lot of work, and involves taking substantial risks. The rewards for taking those risks are by no means guaranteed. The Iemma Government has been ambitious in creating the conditions for success—building up a strong economy, keeping taxes competitive and, as the Treasurer announced last week, maintaining our triple-A credit rating—because small business contributes so much to the State's economy. Small businesses employ more than one million people in our State—almost half the working population—and they make up 96 per cent of all businesses. Small business drives the economy, and we want to make sure owners of small businesses get the support they need to keep growing. That is why we devote an entire month to celebrating and supporting small business in New South Wales.
Small Business September 2007 has once again been a resounding success. Events have been held right across the State—from Broken Hill to Burwood, from Cooma to Coffs Harbour and beyond. I am pleased to announce that to date more than 25,000 people have attended over 280 events across New South Wales. The Iemma Government is hosting 90 of these events, and more than 100 supporting organisations are throwing their weight behind Small Business September 2007 by hosting their own events. The response has been phenomenal. Participants were asked to provide feedback on whether the events had been useful for their business. So far more than 94 per cent of respondents have given a positive rating. This result is evidence that Small Business September is delivering.
Highlights so far have included "Know first, be first, profit first", at which renowned futurist Craig Rispin presented an intriguing and entertaining forecast of what business should expect over the coming years. The audience was given a valuable insight into the next trends and how to take advantage of them. The event was booked out well before the day and Craig faced a packed house in the Parliament theatrette. We were also very pleased to secure Peter Thompson, presenter of ABC TV's Talking Heads , to host our panel discussion "Innovate or Perish: the business hypothetical". The panel included top business minds grappling with hypothetical situations facing a fictional company. No doubt those opposite were not part of the panel.
The SPEAKER: Order! The member for Burrinjuck will remain silent.
Mr JOSEPH TRIPODI: It was terrific to hear the creative solutions the panel came up with on the spot, and they were a great inspiration to the small business owners in the audience. There was also a strong focus on international business and trade with around 30 events throughout the month.
Several of these events were brought together by Austrade representatives who came direct from key target destinations such as Asia, the Pacific and Latin America to share their knowledge. Last week I had the opportunity to address a gathering of delegates from India, South East Asia and the Pacific. Terrific opportunities are opening up right across the region, and because of the work of the New South Wales Government local companies will be ahead of the pack in taking advantage of these markets.
Tomorrow a trade event focuses on the exciting export opportunities in Chile, one of the countries pushing ahead of its region and growing rapidly. Last week I was privileged to meet some of the State's most promising young entrepreneurs at the Young Bizstar competition. Eight finalists pitched their business ideas to a panel of judges, who assessed how suitable the products were to attract investment. One of the winners, Michael Chan, has developed a product called bBand, which has the potential to revolutionise the market for baby monitors. Michael came to the competition with a very clear business case. He had done a lot of market research and he had a good pricing strategy and a really good product. By the end of his presentation the audience members were queuing up to invest in his product.
In the same spirit was New South Wales Pitchfest 07. Hosted by Peter Berner, this event was open to all budding entrepreneurs, and with $20,000 in prizes there was a huge response. Over two days contestants worked with industry experts to develop a winning pitch. As the competition progressed contestants were knocked out: only the best progressed to the finals, where they pitched to investors in front of a live audience at the Powerhouse Museum. I congratulate the winner, Ian McManus, who won over the judges with his innovative small business management software called "My Business Manager". Jimmy Seeravi was not only the runner-up in Pitchfest, with his unique functional food product, but was also winner of his category in the Young BizStar competition. There were quite a few investors in the audience of Pitchfest and they showed a great deal of interest in the projects.
The event brought together ideas and money, and gave local entrepreneurs rare access to investors. Turning ideas into businesses takes a lot of hard work, and we are keen to do whatever we can to help people make the connections, find investment and plan their business so it succeeds from the start. There are still around 50 events happening all over the State and I urge New South Wales business people to continue to be involved with Small Business September. It is all part of our plan to ensure New South Wales is open for business. The New South Wales Government is promoting small business, keeping the State competitive and helping our local small business people to expand their enterprises. We are focused and we are committed. We have a plan for small businesses in this State and we will continue to implement it.
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