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TAFE NSW helps female business owners overcome financial hurdles

TAFE NSW helps female business owners overcome financial hurdles

A TAFE NSW program dedicated to empowering female entrepreneurs is helping to address the financial hurdles faced by businesswomen across the state.

It comes as a survey from the Australian Small Business and Family Enterprise Ombudsman’s (ASBFEO) office reveals access to capital is still a significant hurdle affecting women-led small businesses, with 43% of respondents identifying access to capital as a central barrier to growth.

The TAFE NSW Women in Business program offers fee-free online learning for women running small businesses, micro-businesses, or start-ups. Among the practical business skills offered, the program covers a host of financial topics, including ‘financial literacy 101’, ‘grants and support programs’, and ‘cash flow – know your numbers’.

TAFE NSW Executive Director Education and Skills – Digital, Lyn Rickard said the Women in Business program is providing accessible education and resources to female business owners to help remove the financial barriers to their success.

“The Women in Business program’s focus on financial literacy equips women with the skills they need to succeed, while also helping bridge the gender gap when it comes to financing a small business or start-up,” Ms Rickard said.

“There are many hurdles to overcome when running a small business, particularly in today’s economic climate, which is why we’re providing business owners with the tools they need to navigate not just the operational challenges, but the financial ones as well.” 

“By arming female business owners with essential financial skills and knowledge, we are helping them make their business a success, while fostering a more diverse and equitable business landscape for all.”

One of the participants to benefit from the program is Coonabarabran local, Joanna Wallace, who turned her passion for working with children into a sand tray therapy and play therapy business, Sensory Solutions. 

After working in home care and child protection for 13 years, Joanna was inspired to start her own business providing therapeutic services to children, families, and adults in the local community.

“I enrolled in the program as I wanted to get an understanding of how to run a business and manage the financial side of things. I grew up watching my dad run his own business in surveying, which always inspired me, and since starting my own business, I’ve realised there is always more to learn.” Ms Wallace said.

“Having access to free online courses like ‘cash flow – know your numbers’ has been invaluable. The course gave me access to vital information and links to useful resources like cashflow templates, which has helped my business thrive.

“With the support of my family and the Women in Business program, I’ve been able to make a real difference in my community. I look forward to continuing to develop my skills as a business owner and help people of all ages through expressive therapies like sand tray therapy, play therapy, and pet therapy.”

To celebrate Small Business Month, TAFE NSW Women in Business is hosting an online event on Wednesday 25 October 2023 for women wishing to start up or grow their own business. 

The session, which features representatives from Women NSW and Service NSW, will cover how to access finance and grants and access mentoring, support, and training. Registration is available here:  

Media contact: Emma Hughes, TAFE NSW Communications Specialist, 0409 618 291