In response to the alarming statistic that nearly 50 percent of businesses fail within their first four years, the Townsville Chamber of Commerce have introduced a one-day course designed to provide aspiring entrepreneurs with essential knowledge for starting a business.
In light of the heightened rate of small business closures in Queensland, Townsville Chamber of Commerce President Miranda Mears says they are eager to ensure that new business owners are not only equipped with the best chances for success but are also armed with essential tools to avoid costly mistakes.
“In Queensland we are seeing unprecedented small business closures so if you are thinking of starting a new venture understanding the basics from the outset is critical,” says Miranda.
“Innovation can be a buzz word, but for your business to thrive you will need to think strategically about how your business will work and how you will turn a profit.”
The Start Right Business Course, which has been designed by Miranda, aims to guide participants through the early stages of entrepreneurship. It covers fundamental topics including business structures, compliance, ownership responsibilities, financial basics, business planning, cyber safety, and digital marketing.
“Applying for an ABN is the easy part, but things can unravel quickly if the business owner doesn’t have an understanding of business fundamentals, and this course will give people that,” says Miranda.
“We have limited this opportunity to ensure personalised attention and networking within the group, there will also be a one-on-one mentoring session for each participant, and a full year of membership to the Townsville Chamber of Commerce to help them to connect with the wider business community.”
Miranda hopes the course will play a pivotal role in positioning businesses for success and ensuring they can take the next steps forward with confidence.
“In business having a network that you can connect into as a sounding board, support or collaboration is a powerful tool for business owners, this is why we absolutely wanted to include a membership as part of the program,” says Miranda.
“When I first came to Townsville, I had no business network and the Townsville Chamber of Commerce was my first port of call, so it is my honour and privilege as a volunteer board member and now President to give my time and business expertise to support business owners taking that first big step to help them start right.”
The Townsville Chamber of Commerce Start Right Business Course will be held on Wednesday 31st January. To find out more visit townsvillechamber.com.au.
Main image: Miranda Mears, President Townsville Chamber of Commerce.
Image credits: Image supplied.
Click here to read the latest BDmag articles.