Taylah Malloy and her mother Sarah Turner were among those who travelled to Parliament House to protest the laws, which were passed after the massacre of 15 people at a Jewish celebration in December. The legislation – described as Australia's strictest – bans most licence holders from owning more than four firearms and imposes stricter licence requirements on certain types.
Ms Malloy said her parents' business, Arms & Ammo in the Newcastle suburb of Beresfield, had lost more than $800,000 in firearms trade alone. She called the $25,000 grant on offer "a drop in the ocean".
"Imagine if your parents, their super just blew up in their faces, and they ended up with nothing," she said.
Ms Turner broke down as she described how the dealership could not recoup costs through the buyback scheme because it applies only to individual licence holders, not dealers. "We put our life into our business, and it's just been taken away," she said. "We've got nothing to retire on."
Zac and Courtney Kirwan, who run Badlands, a firearms, hunting and outdoors store at Castle Hill in Sydney's north-west, said trade had plunged 80 per cent. Mr Kirwan said the business supported the couple, their two young daughters, and five employees. The family has sold a house and moved back in with their parents.
"It's just like turning off a tap," Mr Kirwan said. "We're basically losing everything."
The buyback scheme is due to begin in November.