New business a focus
TOOWOOMBA and Surat Basin Enterprise will continue its focus on the region’s health sector while attracting new businesses after a positive annual report, released this week.
The development organisation’s financial statements reveal it is $443,751 in the black, but CEO Ali Davenport urged caution when considering the figure break-down.
“Our profit looks enormous but in reality the expenses will take that out,” she said, adding the funds, received under various grants, would be activated next financial year.
Those initiatives include the Emerging Exporters program and Business Navigators, both of which are funded through Shell QGC.
TSBE’s flagship event, Access NZ, cost the development organisation $115,000 but businesses aboard the international trade mission have reported $4 million in returns.
“If we do one in the future, we will do it differently so it doesn’t cost us,” she said.
“But we see it as a great investment.
“Part of the reason it cost us money was that we didn’t do Access Hong Kong, and we had a cost up-front from that.”
Access NZ cost $357,120, with $241,811 in revenue.
Eleven enterprise evening events in 12 months brought in about $833,000 in business tourism spend in Toowoomba, with about 40 per cent of the average 180 at each event staying overnight in the city.
“Our focus for the future is making sure we’re still delivering for the Toowoomba Regional Council because they’re our primary shareholder.
“We need to be bringing in new businesses to the region, we need to be helping the business community, and growing the economy.”
She said the health sector, as the region’s biggest employer, and attracting new businesses was a main priority.
Agricultural technology and skilled staff attraction and retention would also form key priorities going forward.