On November 20, 2024, Somerset’s small business community came together at the Picnic Society in Toogoolawah for an exclusive evening with the Queensland Small Business Commissioner. The event, hosted by the Somerset Business Chamber, was a valuable opportunity for local business owners to hear directly from the Commissioner about the challenges facing small businesses and the vital support available through the Small Business Friendly Charter and other initiatives.
Here are the key takeaways from the Commissioner’s presentation that were delivered during the event:
1. The Importance of Small Businesses to the Queensland Economy
The Commissioner began by emphasizing the critical role small businesses play in Queensland’s economy, particularly in regional areas like Somerset. Representing over 97% of all businesses in the state, small businesses are the backbone of our communities, creating jobs, driving innovation, and providing essential goods and services.
2. Challenges Facing Small Businesses Today
One of the most pressing topics discussed was the growing list of challenges small businesses face, including:
Rising Costs: From inflation to increased regulatory compliance costs, small businesses are feeling the financial strain more than ever. Many businesses in Somerset echoed these concerns, particularly in light of global supply chain disruptions and local cost increases.
Red Tape and Regulatory Burdens: The Small Business Commissioner acknowledged that navigating complex regulations remains a significant barrier for small business owners. The burden of compliance—ranging from taxes to workplace laws—can take a toll on profitability and productivity.
Workforce Issues: With many businesses in regional areas struggling to find skilled workers, the lack of a reliable workforce is a barrier to growth. The Commissioner underscored the need for targeted skills training and incentives to encourage workers to enter and stay in small business sectors.
3. The Small Business Friendly Charter
The Commissioner highlighted the ongoing success of the Small Business Friendly Charter, a program designed to create a more supportive environment for small businesses in Queensland. This initiative encourages local governments to implement practical measures to reduce the regulatory burden on small businesses. For Somerset businesses, the Charter offers a promising pathway to simplified processes, better communication with councils, and more proactive support from local governments.
4. Government Support and Resources
A significant portion of the Commissioner’s presentation focused on available government support for small businesses:
Financial Assistance: The Queensland Government offers a variety of grants, funding programs, and tax incentives designed to ease the financial strain on small businesses.
Advocacy and Dispute Resolution: The Commissioner’s office provides free, confidential advice for businesses experiencing disputes with suppliers, contractors, or even government agencies. This service is particularly valuable for small businesses in regional areas where legal resources may be more limited.
Training and Development: The government is committed to providing training opportunities that help business owners and their staff stay competitive in the rapidly evolving marketplace. From digital marketing to financial management, these resources can be a game-changer for Somerset’s small businesses.
5. Best Practices for Small Businesses in a Changing Landscape
To thrive despite ongoing challenges, the Commissioner shared practical advice for small businesses:
Embrace Digital Transformation: With the rise of e-commerce and digital tools, businesses that adapt to the digital economy are positioned to reach broader markets and streamline their operations. For businesses in Somerset, this could mean setting up online sales platforms or improving their social media presence to attract new customers.
Collaborate and Network: Building a strong network of local business owners and community stakeholders can provide valuable support. The event itself served as a reminder of the power of collaboration, with attendees sharing ideas and strategies for overcoming common hurdles.
Stay Informed: Small business owners must stay updated on changes in regulations, market trends, and available government support. The Commissioner encouraged everyone to use resources such as the Queensland Small Business Commissioner’s website and subscribe to newsletters to keep up to date with vital information.
6. The Path Forward for Somerset’s Business Community
In his closing remarks, the Commissioner reinforced the importance of continued dialogue between small businesses, local governments, and support organizations. He acknowledged that while the challenges are significant, the Somerset region’s strong sense of community and resilience positions local businesses for long-term success. The Chamber, along with the Queensland Government, remains dedicated to helping Somerset’s small business owners overcome obstacles and seize new opportunities.
Conclusion: Moving Forward Together
The Somerset Business Chamber is proud to have facilitated such an important event, offering valuable insights from the Queensland Small Business Commissioner to our local business community. The conversation doesn’t stop here—our work to support Somerset’s businesses continues through ongoing engagement, advocacy, and collaboration.
As we look ahead, the Chamber encourages all Somerset businesses to stay connected, participate in upcoming events, and leverage the resources available to foster growth and innovation. Together, we can create a more vibrant and resilient local economy.
For more information on upcoming events, government programs, and resources for small businesses, stay tuned to the Somerset Business Chamber’s website and social media channels.
Let’s work together to build a stronger, more sustainable future for Somerset’s small businesses. 🌟
Download the Support Services Document HERE