Positive financial picture for TCCI

THE continued vigour of Tasmania’s peak business group was a reflection of the state’s buoyant business conditions and a focus on members, its CEO says.

The Tasmanian Chamber of Commerce and Industry recorded a modest profit last year despite a decline in membership revenue.

Chief Executive Officer Michael Bailey said the organisation was in good financial health and on a sustainable footing.

“It has been another good year for us, we’ve finished above budget, which is always pleasing,” he said.

“We have what many consider to be the most nimble state chamber of commerce in Australia. We’re certainly now the model for many other states to come down to us to see what we’ve done.”

The TCCI made a profit of $22,838 last financial year, down from the $99,818 the previous year. That profit was in part due to an increase in grant revenue from the NSW Business Chamber — which underwrote the TCCI by $365,000 — a 46 per cent increase over the previous year.

The chamber’s annual report noted that revenue from membership fees fell by 18.5 per cent to $436,000.

Mr Bailey said organisations such as the TCCI had to work hard to provide relevant services to members.

“New businesses need to have real tangible reasons to join a chamber of commerce,” he said.

“The days of joining for the sake of joining are gone and that’s everything — not just in business but also sporting clubs and the like as well, people aren’t joiners like they used to be.

“We’re really sharpening up our services, our training our events, our industrial relations and those key services that businesses really need from us and making sure that they’re the best that they can be.”

In her comments in the annual report, TCCI chair Susan Parr said that the chamber was on track for continued success.

“Our membership, our services and our engagement with members are dynamic and multi-layered. Our financial position is strong, and our influence is wide-ranging.

The TCCI’s total revenue and expenditure for 2018-19 were both stable at around $2.4 million each.