More and more businesses in Central Victoria are feeling the strain.
A fresh report from the Victorian Regional Chamber Alliance has painted a dire picture of the state’s business sector, claiming many operators are now in “survival mode” owing to mounting pressures.
The Business Health Survey gauged the thoughts of a “broad cross-section of established regional businesses”, with nearly 25 percent saying they may not survive beyond the next 12 months in the current environment.
“This is extraordinary, considering almost half of those surveyed have operated for more than 10 years, many are long-standing family businesses, and these are established regional employers, not speculative startups,” the report states.
Meantime, 44 percent of business owners claim they are not drawing a living wage, while 65 percent say they “sometimes” or “never” have work-life balance.
The Alliance – which counts Be.Bendigo and Business Mount Alexander as members – further claims pressures are mounting on regional businesses from “all angles”.
“Rising operating costs, weak consumer spending, housing shortages and increasing compliance demands are combining to create a perfect storm for regional business,” the report says.
In response to those findings, the Alliance is calling for greater support from governments of all levels.
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