Recognition, support and mentoring are three main themes that city businesses are focusing on.
October marks the NSW Small Business Month which aims to inspire, upskill and connect small businesses across the state.
Empowering Aboriginal entrepreneurs and creating more opportunities for women in business are two of seven themes this year.
Wagga Wiradjuri artist and owner of Little Black Duck Ashleigh Pengelly said through encouragement and support, more First Nations people would be inspired to start or grow their business.
"Simply by encouraging Aboriginal people if they're interested or have a business idea to take some lessons and support them," she said.
Ms Pengelly said while Aboriginal people can access training through Indigenous Business Australia, it is not enough.
"There needs to be more encouragement and support," she said.
"... by running training through a mainstream system to show that we can be mainstream and we don't just have to sell Aboriginal products, but we can be something for everyone."
Ms Pengelly said there needs to be a greater focus on equipping people with business skills outside of the month of October.
"No one in my family has had a small business so I became Google queen and searched how to get an ABN," she said.
"[More training is needed] about the basics of getting into business, to accounting, software, legal requirements and intellectual property ... and how to protect copyright.
"There needs to be training for those starting out to those more advanced and bigger businesses."
Wagga City Council's 'Innvoate' Reconciliation Action Plan 2021 provides a frame work to demonstrate commitment to Wiradjuri and First Nations people.
One of these council initiatives includes working with the IBA and other groups to run small workshops on setting up businesses for First Nations community members.
According to the plan, council's Aboriginal youth and community development officer was involved in organising these, and also ran workshops with legal representatives and community members regarding intellectual property.
Women in business
According to the 2016 ABS Census, 33 per cent of small business owners in NSW were female.
President of the Wagga Business Chamber Danielle Wait said the city is seeing more women in leadership, but admitted there was still a long way to go.
"I think having those role models is really important when considering starting a business or those who are looking at that path," Mrs Wait said.
"Seeing others doing that in the community and reaching out to those people to speak about the challenges they face and how they overcame that.
"I've started a business and in my personal experiences in leadership, I've had some success through fostering some really strong relationships and I've been lucky enough to have mentors throughout."
Mrs Wait said through her mentors she has had the confidence to put her hand up.
"It's been something I wasn't immediately comfortable with although being interested in, but having external support or a person who can give you advice and push you can be really helpful," she said.
"When I became president of the chamber I was pregnant and had a baby in my first term.
"Having supportive colleagues meant I was able to bring my baby into meetings and without their support it would've been challenging."