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Regional Victoria – Growing and Evolving
A strong Victoria needs strong regions. The core of our business lies in regional Victoria, so we’re heavily invested in the whole of the state, far beyond the urban centre of Melbourne. At the end of the day, regional success translates into success and prosperity for all Victorians.
We’re noticing a shift in focus to the regional areas of our state. Many Victorians have seen that Melbourne’s population growth is booming – some would say at an unsustainable level – and there are some amazing opportunities available in regional centres such as Geelong, Ballarat and Bendigo.
In fact, the state government is predicting that Victoria’s regional population will increase by 25% by 2031. With this influx of new residents in our regional centres comes increased economic activity through new businesses and a greater opportunity for exports.
We’re excited about regional Victoria’s growth. The population of the City of Greater Geelong alone has increased by close to 7% since 2011 and this brings with it a fast-growing business culture of innovation and flexibility.
There are also a number of attractive grants on offer from Business Victoria for emerging regional businesses. These provide much needed boosts and incentives for businesses to invest in our regions. The grants contain everything from cash injections to strategic advice, allowing businesses to identify and harness the inherent advantages of operating in regional Victoria.
Of course, as the nature of our regional economy changes, so does the nature of the risks our businesses face. A diverse economy brings with it diverse risks.
As new industries and businesses emerge in our regional centres, all businesses need to ensure their cover reflects the changing face of business in their community. We’ve been working with communities across regional Victoria since the 70s and will continue to do so well into the future – we’ve well and truly got our finger on the pulse in terms of what’s happening across our state.
If you’re starting a business or want to make sure you’re protected throughout the evolution of regional Victoria, get in touch.