Small businesses are the backbone of the state's economy, providing the goods and services we need, close to home, while supporting local jobs.

With this in mind, we have just ticked over $10 Billion of annual government support for NSW-based small and medium businesses.

That's almost a quarter of the state government's $42 billion spend on goods, services and construction.

The state's 870,00 small businesses make up 97 per cent of all NSW businesses and employ 1.7 million people.

These people work hard, but don't always have the same access to opportunities a larger businesses.

Which is why we raised the threshold at which government agencies can directly procure goods or services from small and medium business from $150,000 to $250,000.

This means small businesses have a fairer shot at accessing government contracts.

As a result, we awarded more than 1,500 contracts valued between $150,000 and $250,000 to small and medium businesses in 2024.

This includes supplying office materials and furniture, conducting maintenance and repairs on government buildings, and providing catering and food services at state-owned museums and galleries.

As part of this reform, we've also reduced red tape, allowing small businesses to provide insurance information once a contract is awarded instead of during the tender process.

At the same time, we're making vital reforms to the state's broken workers compensation scheme.

Since 2018, the number of psychological claims has doubled.

And the cost of those claims has also doubled - from $150,000 to about $300,000

For businesses, premiums have risen 8 per cent year on year. And if we don't reform, those premiums will have to rise another 36 per cent in three years.

If that happens, businesses will be forced to cut back operations or even cut staff.

Unfortunately, our legislation is currently being blocked by the Liberals and Greens in the Legislative Council.

We are asking them to come to the table, for the sake of small businesses, non-government organisations, and other employers in the state.

We know that NSW businesses are under pressure, but these reforms are designed to help them grow, while lowering the cost of doing business.

As essential employers in our state, small deserve a change to grow and expand and achieve their dreams.

Because a strong small business sector is essential to a strong New South Wales.