# New financial year state nomination #
One of the hot topics
ACT
Small Business Owner
As soon as the new financial year began on 1 July,the ACT government was the first to officially announce the launch of the ACT Small Business Owner (SBO) stream.I’ve taken a close look at the requirements and conditions, and it really is a solid option. Unlike most other states’ Small Business Owner programs, which are basically all under the 491 stream, Canberra’s Small Business Owner stream offers two options: 190 and 491,forhigh-scoringapplicants, getting adirect-to-PR outcomethrough the Small Business Owner stream is certainly attractive,491while the advantage lies inhow quickly you can get invited.
To show its support for and commitment to the Small Business Owner program, the ACT governmentsaw two applicants with a low score of 65 get invited under the Small Business Owner 491 state nomination stream within two weeks of the new policy being announced — a great start for the ACT Small Business Owner program. Invitations have gone out to Small Business Owner applicants in every round since, across both 491 and 190.Of course, both of these applicants were locally based Canberra business owners who lodged as soon as the policy dropped, becoming the first to take the plunge.
Compared with the 188A business and investor migration visa,the Small Business Owner streamis essentially a lighter-weight version of the 188A, with undoubtedly broader appeal — it suits graduates without a business background much better. From Tasmania and Queensland, the first states to launch SBO back in 2020, to South Australia and the ACT, which have just joined this year,four states across Australia have nowadded a Small Business Owner stream to their state nomination programs. Requirements vary slightly from state to state, and each has its own strengths. Don’t ask me which one is best — you’ll need to weigh up your own circumstances and current state of residence to work out which suits you.
# Four states # Small Business Owner program requirements
Next, here’s a table setting out each state’s Small Business Owner requirements in detail:
If you have any questions about the requirements for the four states above,
feel free to come and ask me directly
That’s the official information from the four states, to help you break down each state’s requirements.
Next, I’ll useactual invitationexamples from Newstars to break things down further
↓↓↓↓↓
Queensland (QLD)
Real-world cases show the Queensland government has given solid support to the Small Business Owner program.Over the past six-plus months, the state government has largely worked on a first-assessed, first-invited basis for applicants who lodge,and those who meet the criteria have generally been invited within a week of lodging.
Suited to:Applicants from Queensland and interstate with a reasonably solid budget (Newstars clients who’ve been invited include both local and interstate applicants)
Pros:
No turnover or profit requirements
No need to pay yourself a wage
Most importantly: fast invitation turnaround
Cons: requires an upfront $100,000 capital investment to purchase an existing business
South Australia (SA)
South Australia still favours its own graduates — one of the Small Business Owner requirements is that you must have already lived in SA for 2 years and run the business for 1 year. The residency requirement is too long, making it unsuitable for interstate applicants.
Suited to:Local SA graduates (as the stream has only just opened this year and has a residency requirement, so far only local students have been invited)
Pros:
No initial capital outlay
No turnover requirement
No shareholding requirement
Very flexible business structure — can be a sole trader, partnership, company, or trust
Cons:
Residency period and business operating period are longer than other states
Must employ 2 full-time staff
Below is a recent SA Small Business Owner invitation letter (for a local SA graduate)
Canberra (ACT)
Has the clearest policy — requirements are laid out plainly, and using theMatrix points tableyou can estimate your own score in advance. Of the four states, it offers the best chance of getting a 190 visa.
Suited to:As soon as this program launched,I felt it was tailor-made for accounting students — another route to a 190 visa.Of the four states, only the ACT has a relatively high English requirement for applicants,with ANZSCO-level occupations requiring four 7s in English.For accounting applicants, four 7s across the board is a must — that’s the only way to get your skills assessment,so for accounting students with high scoreswho don’t want to go down the 491 path,the ACT Small Business Owner stream might be a solid option for getting straight to a 190 PR.
Pros:
No initial capital outlay
Fairly flexible on visa status — no need for a full-time work visa, a student visa is fine
No need to hold 100% of the shares yourself, no need to personally run and manage the business, and applicants can hold other employment income at the same time
Clear policy, friendly to interstate applicants
The state government issues invitations fairly regularly
Cons:
Higher English requirement
Tasmania (TAS)
On the surface, Tasmania’s Small Business Owner requirements look like the lowest,but the specific conditions are explained fairly vaguely,and applicants also need to submit a business plan and have prior experience running a company.The state government’s selection process is a bit more subjective.
Suited to:Local graduates who can’t find work related to their nominated occupation, and interstate applicants with relatively lower scores
Pros:
No initial capital outlay
No turnover requirement
Only 6 months of business operation required
Cons: the state government doesn’t give the Small Business Owner stream a priority pathway, and assessment is fairly strict.
The era of 189 has passed, for offshore applicants, for local international students, and for most popular fields of study alike, invitations are reserved only for the very top of the pyramid. Even top-tier accountants aren’t guaranteed an invitation.
Going forward, more skilled migration opportunities will go tothe 491 state nomination stream, whileSmall Business Owner migration applicantscan offer, compared with regular skilled migration applicants,local capital, skills, and employmentand other support,delivering a more well-rounded, multi-dimensional contribution,so there’s good reason to believe other states may follow suit in future.
Of course, which one suits you best varies from person to person — hopefully this article gives students who’ve been feeling uncertain a clearer way to assess things for themselves.If you’re still unsure after assessing your situation, feel free to get in touch with me for a consultation any time.
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