The State Government sees Bankstown as a vital hub of business for NSW
After the devastation of the Bushfires, Damien Tudehope chats with prominent business owners, entrepreneurs, and community leaders about “quickening the road to recovery”.
Damien Tudehope Shares his Vision
Business confidence is in decline. Devastated by the bushfire. The State Governmet of NSW is commitment to bushfire recovery at a massive cost of State resources. Damien is dedicated to helping businesses in NSW doing business with other businesses in NSW and especially about #buylocal and #buynsw. Buy NSW is about simplifying NSW government procurement – so check it out here! It is supplier hub, a place for buyers and suppliers of digital products and services to connect.
Digital is critical to the success of any business, and Damien Tudehope threw out some impactful stats.
- 63% of small business are online, and they don’t do it well
- 93% per large business are online
Businesses need to find solutions to be found digitally, and they should invest more in security, servers and cyber security. Findability is a necessary step to not just going online but truly succeeding.
Devastation like Bushfire, really highlight a businesses weaknesses, and this makes having the right contingencies in place along with the ability to diversify and pivot in your revenue stream. This raises concerns about businesses that may underinsured themselves – or worse – not insure themselves at all. Here are some insurances that a business needs to consider
- Income protection
- Business interruption.
- Loss of attraction.
Payroll Tax Reform 2020
Regressive taxes such as payroll strangle small business and dampen growth, so when disasters like the bushfire slow economic growth, costs like payroll tax can have have massive implication on cash-flow which could be better spent on staff, wage increases and innovation. Damien Tudehope knows that more needs to be done and he was a great istener. We hope to see our members contribution and real life stories move our decision-makers in the right direction.
Increase threshold before tax is paid
Exporting Licensing is a way for businesses from Canterbury Bankstown to access new markets and scale their business in ways that Australian businesses need to. Find out more at AUSTRADE.
During COVID-19 the NSW State Government has set up a 24/7 help line – another way for businesses to be valued and supported.
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