The nature of business relationships between small and big businesses, together with the likely impact of climate change and growing political instability overseas, means a challenging future for northwest coast businesses, small businesses in particular. A key characteristic of the economy of north west Tasmania is its reliance on the growth, harvesting and processing of products derived from the region’s abundant natural resources. Furthermore, our regional economy is reliant (although less...

Businesses in north west Tasmania, particularly small businesses who are proactive and future-oriented will be best positioned to benefit from a challenging future and, uncertainty. A characteristic of many small businesses in northwest Tasmania is the heavy reliance on one or two major customers, quite often from the same sector (agriculture, fishing, mining, manufacture, health care). Whilst many northwest businesses have been prepared to accept this risk (consciously or unconsciously) in the...

Uncertain times expose your business to risks that could threaten its viability.  Enhance your business planning particularly regarding developing a number of operating scenarios (worst case, likely case, best case) – may not be best to identify and continue on a single fixed course.  Develop appropriate risk management strategies to address the following issues: relying too heavily on a small number of large customers relying too heavily on one supplier relying too heavily on...

Without a well-functioning small business sector, the economy of Tasmania’s north west coast will be considerably less resilient. The impact of the synergies between the small business sector and big business in our region, cannot be underestimated. It is often highlighted in the media that the small business sector is the engine room’ of the economy, driving employment and expenditure.  Whilst I understand the political imperative behind this statement, the employment...

North West Tasmania provides an amazing array of opportunities for operators of small businesses. The opportunities we have are across a wide range of industry sectors, most related to our access to a unique range of high quality natural resources – more than anywhere else in Tasmania.  Unfortunately, policy development related to business in Tasmania quite often assumes economic drivers are the same and spread evenly throughout our wonderful state....