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NSW gov. adds $14 million to Business Connect program to build resilience in small business sector

The NSW government is encouraging all small businesses struggling due to the COVID-19 pandemic to register with the state government’s small business advisor program. The program includes Business Connect, which will receive a boost of more than $14 million from the state government. Business Connect exists in order to assist small-to-medium businesses to navigate the financial hardship brought on by the pandemic. 

NSW Minister for Finance and Small Business, Damien Tudehope, said in a press release, “we want to provide the help our businesses need to get out the other side of this pandemic”.

The funding boost of $14 million by the government into Business Connect allowed for an additional business 30 advisors to the program and also ensures the program can continue for an additional year to ease the transition during these difficult times. 

“Business Connect is a powerful tool, with advisors having assisted more than 28,000 businesses over the past three years, providing advice and skills training for small businesses”, said Mr Tudehope.

“Business owners have reported increased confidence, stronger finances, and developed plans for their business. We’ve also seen these businesses create and support more than 15,000 additional jobs since 2017.”

“And now Business Connect will be here to assist small businesses during this tough time with the support and information they need.” 

NSW Treasurer, Dominic Perrottet, also outlined the importance of Business Connect bringing together the SME sector with vital information.

Mr Perrottel said in a press release, “as a result of COVID-19, more than 60 webinars are available through Business Connect to support businesses in developing a road map for success and managing cash flow amid challenging conditions. In addition, a series of COVID-19 Business Information Session webinars with representatives from various government agencies will be rolled out soon, to provide information about stimulus and support initiatives.”

Business Connect aims to put small businesses in NSW in touch with the tools they need to survive this pandemic, such as strategies for rethinking their business model and enhance their digital presence. The program hopes to instil confidence in the small business sector by building resilience and providing small businesses with crucial professional advice and help them develop their skills. 

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