When it comes to Greater Geelong, small businesses have a very big role to play.
They account for 97 percent of all businesses across our region and provide crucial employment opportunities for tens of thousands of people.
In the 12 months to June 2023, about 21,500 small businesses in Greater Geelong employed the majority of our more than 144,000-strong workforce and generated an estimated $9 billion in revenue.
These small businesses showed remarkable resilience and innovation during COVID and it is pleasing to see them bouncing back in the aftermath of the pandemic, despite inflation and cost-of-living pressures.
In particular, non-employing businesses, such as sole traders, increased by 391 in the 2022-23 financial year from 13,107 to 13,498.
It is inspiring to see the number of people bravely venturing into our competitive private sector to chase their business dreams.
Next month we will not only showcase these aspiring entrepreneurs, but also give them tools to bolster their chances of success, at the Geelong Small Business Festival.
Now in its 14th year, the festival is the largest of its kind in regional Victoria with almost 30,000 attendees since its inception in 2010.
The event will kick off at The Pier on Thursday August 8 with keynote speaker Nadia Lee sharing her insights on AI and her fascinating work on pioneering privacy-preserving facial recognition technology.
Over the following fortnight the festival will host more than 50 free or low-cost workshops, seminars and other events aimed at expanding the skills of business-owners and entrepreneurs.
The event will wrap up with the NEXUS Clean Economy Showcase on Friday August 23, featuring leading circular economy advisor Ashleigh Morris.
The showcase celebrates the 10th anniversary of the City of Greater Geelong’s Clean Economy business support and looks at what lies in store for the next decade.
It also demonstrates City’s commitment, not just to growing our economy, but doing so in way that protects our local environment and our planet for generations to come.
I encourage business owners to take advantage of this fantastic opportunity to meet the major players transforming our economy for a cleaner future.
Greater Geelong has emerged from COVID in an envious position, with a resilient economy and our population continuing to grow.
But there is still more work to do.
As a council we understand the pressures small business owners face and strive to support them where we can.
Keeping yearly commercial rates increases low and running events like the ReSound and Tastes of Geelong festivals are just some of the ways we are backing small business owners.
The Geelong Small Business Festival also underscores this commitment and demonstrates just how vital small business are to our local economy.
