What is in the 2025-26 NSW State Budget for Business
Looks like in the 2025-26 NSW State Budget, the NSW Government wants to encourage investment and innovation in NSW. Some of the things announced that are positive to business and innovation include:
- $6m to continue the MVP Ventures program (not sure if this adds 2 extra years to the program ir increases the funding for the last 2 years to $6m pa, instead of $3m pa). Either way it is good that more businesses will get access to this program.
- $6m – New Innovative Manufacturing Adoption Fund, to diversify and expand manufacturing capabilities $6.0m
- $20m – New Emerging Technology Commercialisation Fund, (rolls up the BioSciences Fund and Physical Sciences Fund), to support commercialising research into marketable products and services
- $4 m New Diversity Pre-accelerator Program supporting founders from diverse background.
- $280.6m for Screen NSW to support the Made in NSW and Post, Digital and Visual Effects Rebate programs
- $20m for Sound NSW to implement the NSW Contemporary Music Strategy through grants programs, capacity-building initiatives and regulatory reform
- $700,000 for the extension of the National Space Industry Hub
- $135m for Destination NSW events, promotion and industry support to grow the NSW visitor economy
- $100m funding to locate a new screen production space
- $20.6m for the Office of the 24-Hour Economy Commissioner to support the night-time economy
And they will set up the new Investment Delivery Authority to identify investment proposals and clear barriers to major investments. Not sure how this will impact small business as focused on projects valued at over $1 billion.
Lastly they have allocated $38.5m investment in Tech Central including the relocation of the Sydney Startup Hub. Which many in the start up space are waiting to see how the Startup hub is relocated.
Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. Wayne may also be able to assist you in preparing any grant application.
Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.
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