SMExcellence

Small business is big business in Australia. With 1.9 million small businesses driving 30 per cent of the nation’s economic growth and employing almost half the private sector workforce, they are often described as the powerhouse of the economy.

But establishing a small or medium enterprise (SME) and ensuring it succeeds can be a daunting experience for owners and managers. And history shows that many of them avoid formal business training, opting instead to launch straight into new ventures and learn along the way.

Recognising the skills gap, the University of Western Sydney established SMExcellence, an initiative that helps small businesses build and expand their enterprises. Thousands of businesses are now using the free online learning platform to improve their business skills, particularly in Greater Western Sydney where the economy is heavily reliant on SMEs.

The multi-media program combines a suite of services for small business – for those starting out and for more established businesses wanting to hone their operations through adopting proven systems and models. They can simply log-on, choose from any one of a number of areas that form the foundation of any business - marketing, legal, finance, employment, export and planning – and drill down to specific tools. For example, the site walks users through fundamentals such as creating a business plan. But it also includes more complex areas such as managing intellectual property, understanding contracts, and tax and superannuation. These are supported by interactive e-modules tailored for specific areas. In essence, it is a one-stop shop that distils externally-validated information in a practical way that can be applied immediately.

UWS students are actively involved with the SMExcellence. They help develop the content and use the site to inform their own practice when they go out into the workplace during their final year of study.

The program was the brainchild of Dr Geoff Lee, at the University’s College of Business and Law who identified a strong demand within the community for financial and business literacy skills in a format that was easily accessible. One of flagship projects for SMExcellence is the Small Business Tool Kit. Commissioned by the NSW Government, the online site sits within the Department of Industry and Investment NSW to help small business start, run and grow their enterprises.