In a world challenged by climate change and freight concerns, regional Australians are rising to the challenge and starting their own businesses. From bakeries to telecoms, these brave entrepreneurs are taking their online business degrees to the next level - applying their business acumen to the challenge of getting a business off the ground.
What does it take to start a business in the bush? Let’s explore what it takes to get your business started in a challenging environment - some of the success stories for country employment, and how innovating in the bush is helping to make a difference in the lives of ordinary Aussies from Albury to Yan Yean, and everywhere in between.
Starting A Business Is Hard
Let’s face it - starting a business can be a tricky endeavour. A commonly accepted figure in industry is that some 60% of new businesses in Australia fail within three years of commencement - with key issues such as an aggressive growth strategy, lack of marketing, and poor business acumen accounting for a significant proportion of business failure.
Getting started can be incredibly challenging for those who have never operated a business. It can be even more difficult for those who have lived their entire lives in regional Australia and may not necessarily have the same wealth of exposure as city-based entrepreneurs.
Despite these obstacles, for those who are willing to set up a business in regional Australia, there are a range of grants and supports available, designed to give you the best possible chance to succeed. Many of these bodies operate as separate divisions of Regional Development Australia, a government initiative that is in place to help communities in remote and regional Australia drive meaningful business investment and grant investment.
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Many private organisations also recognise the importance of regional businesses, and financing their operations. Payments provider Square uses business transaction insights to provide loan options that are affordable, allowing them to receive a small loan for a flat rate, rather than running the risk of expensive payday loans.
Bringing Employment to Regional Australia
Small business contributes immensely to Australia’s Gross Domestic Product (GDP) - with recent data revealing that the economic contribution that small businesses make to the Australian economy has topped half a trillion dollars, a new record.
These small businesses are punching above their weight when it comes to apprenticeships and training - accounting for the employment of 42% of all trainees and apprentices across Australia. Small businesses can be incredibly powerful, and can also have immense benefits for the rural and regional cities they operate in.
From the local pub to the grocery store, small business helps drive a sense of community, particularly for those who struggle to maintain a connection in country towns. Entrepreneurs form a vital part of what it means to live out in the country - from a local farm mechanic business to a post office, small business entrepreneurs can make a massive difference in the lives of residents.
Developing Regional Economies
Regional enterprise can help to close the technology divide that exists between metropolitan and regional Australia. It’s well documented that mobile network coverage can be problematic when you’re out in the bush, however, when businesses begin to operate in remote areas, a strong and stable connection suddenly becomes critical.
Government investment in regional and rural connectivity is ongoing - with a recent announcement proposing more than $1 billion in improvements to broadband connectivity and digital resilience. These investments not only allow more Australians to go and experience the regions, but they also empower the next generation of regional digital nomads.
This can have a significant knock-on effect - improving connectivity allows communities to stay connected to the internet longer, which can then enable small businesses to invest in technology such as an online website or social media presence, allowing them to tackle some of the challenges of having a visible business enterprise.
A Bright Future for Regional Investment
Small business remains a significant contributor to the Australian economy - as a significant employer, they punch above their weight when chipping into Australia’s broader prosperity. In a new and evolving environment, regional entrepreneurs are looking to take on the challenge of starting a small business from scratch, helping to develop the small business operations of tomorrow.
No matter whether your business is in Wagga Wagga or West Wodonga, there are organisations that can help you forge valuable industry connections, and connect you to funding and grant opportunities from all levels of government. These grants and investments are all there to help you make the most of your entrepreneurial spirit and keen ideas.
Where will entrepreneurship take you from here? Who knows - over the years, there have been a great many pioneers who have taken their ideas to the store, the digital market, and beyond. With so much innovation and support in regional business, the message is clear - small business is the backbone of the Australian economy, and we’re here to support you.
