SMALL BUSINESSES KEY TO KEEPING THE GOLD COAST GREAT

EARLIER this year I was privileged to spend time travelling around Queensland as the “Visiting Entrepreneur” for the Queensland Government.

It was fascinating to see the different ways each region of Queensland were attempting to foster innovation with a drive to produce change and economic outcomes – yet with a subtle backdrop of nervousness around changing the lifestyle and feel of their city or region.

The impending opening of the Gold Coast Innovation Hub, supported by both the Queensland Government and the City of Gold Coast, has sparked many conversations at both a strategic citywide and an individual level about what we want the Gold Coast to be.

I moved to the Gold Coast seven years ago and like many who moved here, it was essentially a lifestyle choice and like many others I don’t want that lifestyle to change – unless it is another cool new cafe or restaurant of course.

If we wish to keep the Gold Coast going we definitely need to continue to support our key industries of tourism, hospitality and construction. If we wish to protect our lifestyle and ensure protection from economic downturns, we must embrace a vibrant innovation culture and that is something the city has struggled to do.

The Gold Coast’s struggle was abundantly clear during my time as Visiting Entrepreneur – the Gold Coast was falling behind every region I visited (and I visited many, many regions including some that had more cows than humans).

In years gone by it has been common for governments to try and attract large organisations to set up in their region to create jobs. These companies have often generated some employment but have left once the government assistance had dried up.

Innovative companies commonly employ small teams and sell nationally or globally. A future with these companies is 100 companies of 20 people, not one company of 2000 people – and this is not just about employing geeks that are good with technologies, these are still businesses that require the full range of skills every business does like sales, admin, customer service, accounting, legal etc.

And of course these businesses spend money with other local businesses. These are companies that will fit in to our Gold Coast lifestyle, will create jobs and generate exports for the Gold Coast.

Innovation exists in all industries – including construction, tourism and hospitality – so if we have an innovation ecosystem we also have a naturally diversified economy and future for all at the Gold Coast no matter what industry they are in.

It’s great to be a Gold Coaster – what a life we have. Let’s hope the Gold Coast Innovation Hub and ecosystem can drive the next generation of small businesses at the Gold Coast to keep us living the dream for years to come.