A Chat With Chamber - By Mary Brown, President of Hinchinbrook Chamber of Commerce, Industry & Tourism

At a recent Chamber Industry Breakfast, many locals learned about resilience and how to apply it to their businesses. Featuring guest speaker Fiona Jago from Resilient Ready. Photo credit: Victoria Velton

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Navigating The Ever-Changing World Of Business

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Chamber is receiving feedback from many business owners that there has been a noticeable decline on consumer confidence in recent months and the broader uncertainty is creating an environment of caution and restraint.

The ongoing hostilities around the world are adding to the impacts being felt in households across the nation where heightened cost of living pressures, interest rate rises and more recently taxation changes announced in the Federal budget are giving rise to increased apprehension.

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In addition to these impacts, at a local level for those involved in the agricultural sector, the continuing low world sugar price will affect the wider local community, as the broader economic outlook is directly related to the sugar industry.

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For many in business, including staff and contractors, this is a very challenging and concerning time as they navigate the pathway to remain sustainable. At recent Chamber meetings and events, we have encouraged open and frank discussion regarding the challenges but also explored the opportunities to expand market audience and review whole of business operations that may enable more streamlined operations.    

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Because of the diversity of local business types and client-base, there is not one simple solution, rather a tailored approach that aligns with the operations of each business. Some owners are reviewing the impact of changing staffing availability to amend trading hours, some are reviewing marketing strategies, and others are reviewing stock levels or refining the service delivery options.  

Regardless of the decisions that each owner may take, the one constant theme that emerges particularly during challenging times in the economy, is how essential it is for every business owner to be constantly reviewing and assessing how things are travelling.  

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Owning a business can be very rewarding and sometimes very stressful or isolating. Chamber strives to inform and support its membership and encourages anyone in the business community who be feeling the strain, to please reach out, connect with your support network and seek help to navigate the journey.  

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