Women and Small Business
The Hon. AILEEN MacDONALD (14:18): I take the opportunity to acknowledge the role of women in small business, which is the engine room of our economy. Research shows New South Wales has almost 850,000 small businesses, which account for 34 per cent of all Australian small businesses. One‑third of those businesses are in rural New South Wales. Furthermore, women‑owned businesses represent 35 per cent of Australian businesses. Female involvement in small business is significantly understated, with many women acting in key advisory and support roles in the running of family businesses.
I bring this to the attention of the House because 1.7 million people are employed by New South Wales small businesses, accounting for almost half the State's private sector workforce. Those figures are critical at a time when we are going through a cost‑of‑living crisis. Small business is the unsung hero of our economy. Small businesses do it tough but are resilient to adversity and remain the backbone of many communities. I know because I have been a small business owner. I know the pitfalls and the blessings. Business owners need to be across everything in the business. They need to become an expert in human resources, recruiting, accounts payable and accounts receivable, and having difficult conversations with staff.
I am aware of the things beyond one's control, like interest rates, the cost of electricity and the other essential services needed to run a business. Unbeknownst to many, those in small business acquire new skills just to survive—public relations, marketing, basic accounting, customer service, managing workers compensation insurance portfolios, comprehensive insurance portfolios and fleet management. Sometimes it is learning to drive a car, a ute, a truck or a forklift. Those of us who have owned a small business in regional New South Wales understand that you learn to just get on with the job. I learned to drive a forklift so I could load and unload pallets of produce. If members are wondering, I still hold my forklift licence.
The Hon. Jeremy Buckingham: Hear, hear!
The Hon. AILEEN MacDONALD: You never know when you could use it in a place like this! I invite this House to recognise that those 35 per cent of women who own businesses constantly face the brutal reality of making sure their employees are paid before anything else, navigating the banking, legal, accounting and wages demands. It can be a burden for families in small business, especially for those unaccustomed to dealing with regulatory frameworks. This is not a whinge. It is a salute to those who drive the New South Wales economy, with $465.3 billion in annual sales and service income. I let all those involved in small business, especially the women, know they are truly valued in the community, especially those in rural and regional New South Wales.