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Presidents Report January 2025
06
January 2025
Presidents Report January 2025

Happy New Year from the Tamworth Business Chamber! As we welcome 2025, here’s a quick update and a look at what’s ahead: ✅ December Highlights Our new Directors attended the Business NSW New England and Northwest Economic Luncheon, where Chief Economist Dr. Sherman Chan shared insights on the economy. Key takeaways: moderate GDP growth, stable inflation, and strong regional workforce participation. Challenges like skill shortages and productivity pressures remain, but Tamworth’s strengths in workforce development and tourism offer exciting opportunities for growth. 🎶 Tamworth Country Music Festival (TCMF) From 17–26 January 2025, TCMF will once again showcase Tamworth as a cultural and economic powerhouse! With $100M+ in economic impact and thousands of visitors, this event is a massive opportunity for businesses in hospitality, retail, services, and tourism. 👉 Tips for Success: 1. Deliver exceptional customer experiences. 2. Leverage the Festival to drive long-term business growth. 3. Work collectively to uphold Tamworth’s stellar reputation. Here’s to a year of growth, collaboration, and shared success for our business community. Let’s make 2025 one to remember!

Dear Members,

Happy New Year! I hope you all enjoyed a restful holiday season. As we embark on an exciting 2025, I am pleased to share recent updates and shine a spotlight on the month ahead.

In December, our new Directors attended the Business NSW New England and Northwest Economic Luncheon, where we heard from the Chief Economist Dr. Sherman Chan. Dr. Chan provided a comprehensive analysis of the current economic climate, and her insights underscored the importance of staying agile and innovative as we navigate the year ahead.

Nationally, GDP growth remains moderate, inflation is within the Reserve Bank’s target band, and workforce participation in regional areas like Tamworth exceeds state averages. However, challenges such as skill shortages, high operating costs, and productivity pressures remain key issues. Addressing these barriers while leveraging Tamworth’s strengths in workforce development and tourism will be crucial for continued growth.

After a highly productive year, the Chamber team took a well-earned breakover the festive season. This pause has allowed us to recharge, ready for an exciting year, starting with one of the most significant events in our region’s calendar - the Tamworth Country Music Festival (TCMF).

TCMF, running from 17 January – 26 January 2025, is the premier event among regional cities, attracting tens of thousands of visitors and injecting over $100 million dollars into the local economy. It solidifies Tamworth’s reputation as a cultural and economic hub. This festival is a celebration of our identity as the capital of country, cultivated over decades of dedication and collaboration.

For our Chamber members, TCMF offers immense opportunities. From hospitality and retail to services and tourism, businesses across the spectrum can capitalise on the influx of visitors and heightened activity. However, we must approach this success with foresight and responsibility. As the saying goes, "never look a gift horse in the mouth." While Festival’s strength has been carefully cultivated, it is imperative that we continue to nurture it. This means ensuring exceptional customer experiences, leveraging the event for long-term growth, and working collectively to uphold Tamworth’s reputation as a must-visit destination.

Let’s make 2025 a year of growth, celebration, and shared success. I look forward to working alongside you as we continue to build a strong and prosperous Tamworth business community.

Yours in business,
Dave Errington
President
Tamworth Business Chamber