Boom Or Bust

Boom Or Bust

The Gladstone Chamber of Commerce and Industry (GCCI) will be conducting a ‘Boom, Bust or Reset’ study workshop in conjunction with GTC Financial.

The workshop will aim to help businesses understand how the information and data presented in the study can be useful to them. An overview of the ‘Boom, Bust or Reset’ study will be provided at the workshop, which will include the statistics that are relevant to each individual sector.

In terms of their investment and planning strategies for the future, 50% of businesses indicated that they would remain the same. Of that 50%, businesses from the professional, technical and scientific sector represented 38% of the group, while 68% from that group were businesses established 5-10 years ago.

So what does that mean for those businesses and the sectors they represent? Did these businesses suffer less than others from the recent economic downturn? Do businesses that have been establish long-term have more stability or are more equipped to ride the waves? These answers will be uncovered throughout the workshop.

When asked about the biggest issues being faced by businesses in Gladstone, the majority of responses indicated decreases in work was the most significant. Other major issues included financial management, high costs, not buying locally and staff issues.

New businesses established in the last 12 months indicated that financial management and marketing were their biggest issues, while businesses in the retail sector identified not buying locally, economic downturn and decreases in work as their three biggest issues.

The ‘Boom, Bust or Reset’ study is an invaluable tool for businesses to seek assistance in the training of necessary services, identify issues specific to them and find solutions, gain an understanding of business sectors that are still thriving and to focus on areas of stability.

The workshop will be held on 2 June 2016 and will be extremely valuable to all local businesses. For more information, contact the Chamber on 4978 1389 or email