Here at Adroit, we love where we live. We share in the pride our communities have for our amazing regional Victorian towns.
Celebrating and exploring our communities, it is with great satisfaction that I release the results of our second annual ‘Regional Victorian Business Survey’. The survey shows the mindset and attitude of a wide range of businesses across regional Victoria.
Regional Victoria is powering ahead, and the mood is positive!
It’s been a prosperous 12 months for local businesses and it is very satisfying to see a strong confidence that the year ahead will be even better. Most businesses that we surveyed think they’ll be increasing revenue next year.
Business confidence that should translate into further jobs growth. Around a quarter of businesses predict they will increase staff numbers. This is encouraging for our regional communities that sometimes struggle with growth in employment opportunities.
Within the broader good news, the survey identifies areas of concern and red-flags. Businesses are extremely wary of over-regulation, with many making a point of decrying the ‘nanny state’ culture that appears to be deepening in Victoria.
Market and economic conditions can be tough, and dealing with unnecessary red-tape on top of that can be a barrier to growth for many of our regional businesses. Almost half of the businesses we surveyed are unhappy with the State Government. They are looking for the Government to lift their game, with better investment in infrastructure, public transport and broader community support, areas that have been neglected by successive Governments.
Businesses are optimistic about the future but want to feel that Regional voices are being heard by those making long-range decisions that could impact their business. Especially at a time when competition for business and shifting consumer behaviours and global forces are making the waters even trickier to navigate.
We hope this survey becomes an important tool, not just for regional businesses, but also for the government and commentators in evaluating the future of regional Victorian communities and the vibrancy of their economic contribution.
Here are some highlights from the data; to learn more, download the complete survey here.