Helping local businesses to grow

While the establishment of new businesses is important, much of the employment and business growth in a community comes from the expansion and development of existing businesses.

Rural businesses face difficulties in maintaining a large inventory of stock and in keeping prices low. Business owners in rural and regional areas can, however, build their businesses by activities such as expanding their markets, offering excellent customer service, or becoming known for a particular speciality.

Some things that communities can do to support this activity include:

• Help business owners to access education courses and programs to build technical and managerial skills
• Encourage business and industry visits to share ideas and identify opportunities for businesses to leverage off each other
• Develop cooperative arrangements between businesses such as local supply contracts or joint use of transport
• Improve organisation and coordination through groups such at the Chamber of Commerce
• Identify sources of finance and venture capital
• Pursue options such as leasing or group ownership of equipment
• Seek out new technology
• Improve local infrastructure and services for business such as telecommunications and transport
• Investigate potential markets and opportunities for reducing costs
• Conduct community feasibility studies of new products
• Consider reintroducing home delivery services for an ageing population,
• Consider business clustering
• Hold local business appreciation events.

Extra resources

• ‘Growing small communities – Coolamon’s success story’ describes how Coolamon, a small town in the ‘shadow’ of Wagga Wagga has managed to attract tourism and new residents to the town, providing the catalyst for the local economy to grow and generate employment opportunities.
• The Business Retention and Expansion (BR+E) Program is a tool used around the world that can assist local businesses to survive and grow in a regional community. The Department of State Development website has a useful overview and resources, as well as some case studies of Queensland communities that have already undertaken the program: Malanda and Crows Nest/Goombungee.
• The contact details for local State Development offices can be found on the SDS website.