Women in Business program receives $4 million investment from South Australian government

The South Australian government has launched its $14 million Small Business Strategy 2023-2030 with $4 million allocated specifically for a Women in Business program.

This key initiative aims to support women business owners, whether they’re in the formative stages of starting a business or looking to grow an established business.

Only 0.7% of funding secured by startups currently goes to women-founded companies in South Australia.

Minister for Small and Family Business Andrea Michaels MP said she understands there are specific hurdles women face when starting and growing a business.

“It’s what I know from personal experience, but it’s also what women business owners right across South Australia have told me — more than 40% of female respondents in our recent engagement have experienced barriers such as gender bias, difficulty accessing capital and not being taken seriously,” said Michaels, referencing the Malinauskas Labor Government’s small business survey.

“Creating opportunities for more women to start and grow their own businesses is something I’m really passionate about and excited to see it make a real difference for women across the state.”

The Women in Business Program has already seen almost 600 participants engage in three ongoing initiatives.

One of the initiatives – The Women in Business Advisory Program – is aimed at high-growth businesses seeking to improve their corporate governance, establish an advisory board, expand or become export-ready. This is a partnership with Behind Closed Doors.

The Foundations program is another initiative that encompasses a range of capability-building opportunities designed to give women founders the knowledge, tools and contacts required to succeed, as well as four hours of mentoring with an industry expert. This is delivered by Adelaide Business Hub.

There’s also an event series called HERstory: Business Collective, in partnership with the Port Adelaide Football Club. This series delivers networking and professional development opportunities to support women business owners’ growth.

One of the Women in Business Program participants, Annunziata Thompson said she joined the program to find new community networks for her business, Mrs D’s Cookies.

“I’ve met some really inspirational leaders and fellow participants, and everyone’s just been so open to sharing ideas and concepts,” said Thompson.

“My experience so far has been fantastic, being able to channel a lot of my ideas and thoughts into a more structured plan.”

With the government’s new investment into South Australia’s Business Strategy, there are 20 initiatives, including the Women in Business program, designed to grow South Australia’s small businesses by embracing diversity, building skills and workforce, boosting sustainability, and navigating the digital environment. The initiatives also aim to strengthen businesses and improve access to government services.

Small business owners are now able to seek advice from a team of Business Support Officers and will soon be able to participate in capability-building programs addressing financial management, marketing, cyber security, strategic planning and more.

They’ll also receive support to attract and retain employees, more mental health resources, assistance to pursue sustainable business practices, and access to networking and mentoring opportunities.

This article was first published by Women’s Agenda.