I hope this update finds you all in good spirits despite the icy winds pushing through the state! It is a privilege to be filling in for Victorian Chamber Chief Executive Paul Guerra. Our CEO is currently with a small contingent in Geneva for the 2023 World Chambers Congress, as Melbourne prepares to host the WCC in 2025.

Melbourne has been ranked as Australia’s top city and third globally in the 2023 Global Liveability Index, marking a steady rise as the city returns to normality from Covid-19.

Congratulations to all the amazing Australians who have been celebrated as part of the King’s Birthday 2023 Honours List. Not just the famous faces, but also the quiet achievers of Victoria, who dedicate their lives to improving their communities and outcomes for the less fortunate.

Office-based businesses seeking assistance with the challenge of reducing emissions can explore CitySwitch, a free to join, national program delivered locally by participating councils.

It’s been an interesting week, and probably one that will have most business owners and leaders wondering “What next?”

It was great to catch up with the Agent General Victoria to China, Brett Stephens earlier in the week to discuss the investment, sourcing and exporting opportunities for Victorian businesses. I certainly heard the optimism from Brett about what the opening can mean for business in our State, and we will be looking to progress that once Brett returns to China next week.

Victorian Treasurer Tim Pallas handed down the State Budget on Tuesday afternoon and I’m sure many of you went straight to how it would impact your business, positive or negative.

The negatives outweigh the positive initiatives for business in the Victorian State Budget 2023-24 released today, with medium and large businesses and multiple property owners facing increased costs to repay State debt.

Today’s State Budget of new and increased taxes and levies will hit medium to large businesses and property owners. It will directly impact jobs and investment in Victoria.

The Victorian Chamber of Commerce and Industry welcomes the Victorian Government announcement to replace stamp duty for commercial and industrial properties with an annual property tax.

WorkCover changes announced today will see premiums increase by more than 40 per cent, changes to mental health eligibility and the creation of a new pilot program for impacted workers.

Today’s State Government announcement of a 42 per cent increase in WorkCover premiums to 1.8 per cent makes our scheme the most expensive in the country and is yet another increase to the cost of doing business in Victoria.

As business awaits next week’s State Budget, the latest feedback from our members is that regained confidence post-pandemic has waned in the face of tough economic conditions.

The Victorian Chamber’s third Business Voice trend survey has revealed a drop in confidence concerning business’ revenue growth with almost one-third of businesses responding that they are less likely to recruit new staff, compared to one in four just six months ago.

Victorian businesses are bracing themselves for lower revenue growth and slowing staff recruitment in the coming months as the cost-of-living crisis hits, the latest Victorian Chamber of Commerce and Industry survey reveals.

Melbourne CBD businesses have an opportunity to benefit from Melbourne’s RISING Festival which celebrates music, food, art and culture from 7-18 June.