SMALL business is the lifeblood of regional economies, and last night Bendigo’s best were recognised at the annual Bendigo Business Excellence Awards.
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More than 700 businesses were nominated across 16 categories, with judges having the unenviable task of whittling that figure down to 39 finalists.
Of course, not everyone who attended last night’s gala presentation night could leave with a gong, but all nominees deserve recognition for their contribution to our community.
It is as easy as it is foolish to overlook the importance of the small business sector to the economy.
Yes, they do not generate the mega-profits of our banks or mining companies, but collectively their value certainly belies the word “small”.
Australia is home to some 3.2 million small businesses, which employ about 5.5 million workers.
In fact, small businesses make up 99 per cent of all Australian businesses, pumping an impressive $380 billion into the economy.
The small business sector has faced, and will continue to face, significant challenges.
A glance through this year’s categories shows how rapidly the business landscape – even in a regional centre – has changed in recent years.
Categories such as Excellence in Online Marketing would not have existing a few short years ago.
Globalisation, driven by advances in technology, means that small businesses – particularly in the retail and manufacturing areas – are no longer competing on just a local, state or national level.
Their competitors now include the likes of giants such as Amazon and eBay, as well as off-shore companies that can manufacture goods at a fraction of the cost due to lower wages and a lack of regulation.
While small businesses must evolve and innovate in order to survive in this hyper-competitive climate, consumers also have a responsibility to support those trading close to home.
People cannot complain about the lack of retail options in Bendigo’s CBD if they insist on doing all their shopping online simply to save a few dollars.
Buying locally is an investment in our community. The more money that circulates in the local economy, the more jobs that are created.
- Ross Tyson, deputy editor
