Welcome to the March newsletter.
This month I note with interest the recent Business Conditions Survey released by BusinessNSW. It has some interesting key finding worth noting. The survey of over 1,100 businesses across the State of NSW found that business confidence had risen for the third straight quarter but that 95% of the respondents experienced some cost-of-living pressures with concerns about cash-strapped customers, insurance and energy costs being top three issues noted. With official interest rates remaining on hold until at least the 19th March (the next meeting of the RBA) let’s hope the business confidence will continue to improve. We also note that 51% of businesses reported continued business supply chain disruptions in the past three months. In the near future we will include an update from QUBE regarding the Tamworth Intermodal Hub – with direct rail now re-established locally maybe we might see some improvements in supply chain logistics here.
On a jobs front the survey noted that 10% observed more job applications coming through the door with over 92% identifying issued related to attracting and retaining the right candidate. With these daunting statistics it is great to see the launch of the ViewJobs platform - a fantastic new regionally focussed recruitment platform launched this week by one of our major communication partners, ACM / Northern Daily Leader. The ViewJobs platform and the team behind it know their market locally and as the platform develops should become a real asset to local businesses wanting to find local talent. I have included in the newsletter a link to their launch material.
This month we also have an intriguing article from Chamber Director, Craig Clarke – Relationship Director with CBA regarding Business Email Compromise scams. Many business owners believe that scam victims must be guillible, lack commonsense or be just plain stupid. But with the development of OpenAI platforms such as ChatGPT the ability for a foreign scammer to create a very convincing invoice or email conversation is very real. Craig’s article is a timely reminder to be vigilant in this digital age.
The Junior Chamber’s long lunch was held at the end of February and was a great day out amongst the vines and lots (and lots) of sun. A huge thanks to Shonia Poole and the Junior Chamber committee for arranging the event and to Tangaratta Vinyards for hosting. Also to the team at Southwell Property for the generous sponsorship and Brooke Southwell for the “fireside chat” at the event. Brooke and I took the time to chat about her business, her life and what words of wisdom she had for the young leaders around the table. Her explanation around not having a “scarcity mentality” was great advice to those in business – in essence, if we all approach life with the view that everyone is a competitor and that there isn’t enough to go around (i.e. scarcity) everyone will be in a race to the bottom. If however, we approach business with the mentality that we can work collaboratively then everyone can win.
Over the coming weeks we will be launching the 2024 Think Local Shop Local Campaign and announce the date for the State of the City Leaders Forum. Keep an eye out for these announcements soon.
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