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Chief Executive Update 09 February 2023

09 February 2023

Well, it seems we are going to have to get used to interest rates continuing to rise if this weeks commentary is anything to go by. I’m sure you all felt the impact of the latest interest rate rise in some way. It’s another cost increase that will hit most businesses either directly or indirectly via the potential decline in consumer spending.

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Businesses are also feeling the squeeze caused by escalating electricity and gas prices. Extra costs that are only, in some cases, passed on to consumers when they can least afford it.

Rising prices are just one of the challenges facing business, along with certainty of supply and how to access support to transition to a net-zero economy. That’s why we have developed `Achieving a Net-Zero Economy: Roadmap for Victorian Businesses’.

As Victoria’s peak business body, we believe it’s important to take a proactive approach to lowering the State’s carbon emissions while seizing economic opportunities during the transition.

The document details 25 recommendations that will assist business and position Victoria as a global leader.

Its release today signals the start of our ongoing campaign to address this pressing issue. We will have more to say in the coming weeks but in the meantime, I encourage you all to read our roadmap and share with your networks. We would love your feedback, as we know energy will continue to be a major issue throughout the year.

Our 2023 events calendar kicked off last week with Victorian Chamber and Bunnings Present: Road to the Victoria 2026 Commonwealth Games. The lunch at the MCG was a fantastic success and received significant media coverage about what we can expect as planning gets underway for the first ever regional Games.

As Victoria 2026 CEO Jeroen Weimar explained, the Games will bring opportunities for businesses in Regional Victoria. Australian Diamonds captain Liz Watson echoed the sentiments of athletes excited by the prospect of competing on home soil. We plan to make this an annual event as we count down to 2026, and look forward to bringing those events to our regions.

I’m looking forward to hearing more insights into what the Chamber can do to help the regions when I sit down next week with Regional Cities Victoria, an organisation that represents the state’s 10 largest regional cities. It’s opportunities like this that enable us to keep shaping our advocacy to directly benefit our members.

There are a couple more events to pop into your diaries, starting with the first premium networking event for the year, Victorian Chamber & CareSuper Present Business After Dark on February 28 at Marvel Stadium. And don’t miss our special breakfast event, ‘Why ESG is good business’ on Wednesday March 22, hosted at the Melbourne Convention and Exhibition Centre.

Speaking of our members, we are enormously proud to have welcomed more than 500 new members to Chamber this financial year. The recent revamp of our membership offerings that have been designed to fit every business style and type enables each of you to access relevant services, tools and growth opportunities.

There’s never been a better time to be part of the Victorian Chamber and our team will be happy to help you find the membership package which best suits your business.

I’d like to encourage you to support our good friend Major Brendan Nottle from the Salvation Army on Tuesday February 28 at a special gala screening of ‘Living’, starring Bill Nighy, at Cinema Nova. Enjoy a great night out and help support the Salvos Carlton Café – a new safe space where those doing it tough can dine, connect with people, and find support. All proceeds go directly to establishing the new café and pantry donations will also be welcome on the night. Secure your tickets here.

Finally, I’m off to the Red Hot Chilli Peppers tonight at Marvel Stadium. Well done to Live Nation and Marvel on continuing to lure the big concerts to Melbourne.

Have a great rest of the week.

 

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