Business Hunter is leading the call for the NSW Government to reinstate funding for a program, which offers vital assistance to start-ups.
It’s understood the state’s powers-that-be will cut financial backing for the Business Connect program from the 2025/26 budget, inhibiting a valuable support service that aids small and medium-sized enterprises (SMEs).
It comes after registered training providers received three months’ notice to wind up their ventures.
“The free Business Connect scheme provides tailored advice to help SMEs tackle challenges like planning, marketing and cash flow,” Business Hunter CEO Bob Hawes said.
“With rising costs and insolvencies at their highest since 2009, small businesses need this sort of support now more than ever.
“Business Connect also delivers essential mentorship for entrepreneurs and business operators.
“And, for many, it’s at a time when they are at their most vulnerable.”
Business Hunter and its state affiliate, Business NSW, are requesting the NSW Government to immediately restore Business Connect funding for 2025/26 and commit to working with stakeholders to review its effectiveness and explore new methods of delivery for future years.
Mr Hawes said the region’s training providers enjoyed an impressive past, helping many new businesses to grow or get off the ground.
“Newcastle’s not-for-profit Business Centre, for instance, has a 40-year track record of providing training and advisory services to locals and boasts a 98% client satisfaction rate for its Business Connect programs,” he explained.
“If the NSW Government wants to improve the initiative, it should be looking to reputable providers for guidance on successful delivery models.
“Not cutting them out of the program altogether by pulling funding at short notice.”
Mr Hawes said start-ups and SMEs were an integral part of the regional business ecosystem and needed support to thrive.
“They are the backbone of the Hunter economy,” he added.
“And, you never know when today’s start-up might become tomorrow’s market leader.
“At a time when this region is looking to diversify its economy and drive business innovation, this grassroots support for business is essential.”
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