A strong small business sector is a valuable asset in any community and Coffs Harbour is no different. Small businesses are defined differently by various regulators in Australia depending on the laws they administer.
The Australian Taxation Office defines a small business as one that has annual revenue turnover (excluding GST) of less than $2 million. Fair Work Australia defines a small business as one that has less than 15 employees.
Perhaps the most important sign of the strength behind Australia’s small business sector is the sheer number of companies that fall into this bracket. In fact, according to the Australian Bureau of Statistics, there are 2.1 million actively trading businesses in the country, with 97 per cent having fewer than 20 employees.
What’s more, they account for a significant chunk of the economy – 35 per cent of all value generated in Australia, according to the Reserve Bank of Australia (RBA).
With so many small businesses in the country falling into that category of fewer than 20 employees, it isn’t surprising that they are also big contributors to a second major benefit to the economy: employment.
Small businesses are big hirers and it isn’t just the number of small businesses that make them important for the Australian economy. These companies are collectively the largest source of employment in Australia.
The RBA found that small businesses are responsible for about half of all jobs outside of the financial sector. Perhaps unsurprisingly, those roles are concentrated in industries that are dominated by smaller companies.
Overriding all this is that small business needs to have a voice and this is where the Chamber of Commerce comes into play. The Coffs Harbour Chamber of Commerce is a membership-based, not-for-profit organisation, made up of businesses from a broad range of industries.
Administered by a proactive board of management, meeting each month to discuss issues affecting the business community, The Coffs Harbour Chamber of Commerce develops new and innovative strategies to ensure the continued economic growth of the region, lobbies different levels of government on behalf of members, and initiates learning and networking opportunities for the business community.
Through a variety of initiatives, The Chamber is constantly working to improve the region’s economic development, member services, community, and quality of life issues.
We are committed to promoting the interests of our members by taking a proactive role in helping to define and shaping the region’s ever-changing business environment. Building on our region’s strengths, it is our goal to make Coffs Harbour an exceptional place in which to live, work and play.
Most importantly The Chamber offers a platform for all small businesses to get together and share ideas and concerns with other like minded businesses who are in similar situations.
If you are a small business and aren’t a member why not come along to one of the next breakfasts and find out all about us. Please contact the Chamber on mailto:firstname.lastname@example.org http://www.coffschamber.com.aufor more information.