Different definitions of small business are used across Government programs, legislation, and institutions in New South Wales. This can create confusion for small businesses and make it difficult for Government agencies to know which definition is appropriate for their program or policy.
These guidelines set out the two standard and preferred definitions of small business
- aggregated annual turnover less than $10 million and
- fewer than 20 full-time equivalent (FTE) employees.
The Australian Bureau of Statistics (ABS) provides annual business counts for both definitions, making it easier to cost and more effectively target programs that adopt these definitions. The specific benefits of each definition are detailed in this document to help agencies choose the best definition for their circumstances.
