Illawarra leads NSW's shift toward knowledge economy jobs
The Illawarra has more small businesses in the knowledge economy than other parts of NSW.
Illawarra's small business sector is thriving in professional services and technology roles, ahead of the rest of NSW in the shift toward knowledge work. NSW Small Business Commissioner Kalina Koloff visited the region this week and highlighted the trend in a new report.
The knowledge economy means businesses use software and problem-solving skills. They rely on intangible assets rather than physical goods.
Across NSW, 63 per cent of all businesses now have four or fewer employees. This signals the rise of micro-businesses.
According to a new report, 47 per cent of NSW small businesses already use AI tools. They use them for marketing, branding and administration.
Despite the growth, owners face high interest rates and inflation. They also struggle to find staff.
- Kalina Koloff
- NSW Small Business Commissioner
- 63 per cent
- NSW businesses with four or fewer
- 47 per cent
- NSW small businesses using AI tools
Why it mattersRegional economies that shift toward knowledge work and technology create higher-value jobs. They can compete globally without relying on traditional industry or transport links.
AustraliaIllawarra's business sector is becoming more resilient and competitive, potentially attracting skilled workers and creating sustainable jobs across the region.
✓ Claims checked against the source and corrected before publish. checked 3 h ago
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