A belated Happy New Year. I noted an economist outlook for Central Queensland was for much of the same this year. This is despite continuing high coal prices and new investment in mining, beef prices remaining strong, the introduction of National Disability Insurance Scheme (NDIS), Singaporean military investment, Beef Week, a promised manufacturing hub for Rockhampton, not to mention Adani.
Why only a forecast of much the same (he did exclude the impact of Adani in his forecast)? Private/household spending is not expected to increase due to little wage growth, financial instability (more people not in full time employment) and higher costs of living.
This has a direct impact on local businesses (SME’s) as caution is continued to be exercised with individuals and families discretionary spending.
SME’s (Small, Medium – sized Enterprises) are at the very heart of every community in Central Queensland. They employ locals, they invest locally, they support local clubs and events. Most SME’s (especially those in non-tourist locations) survive on the spending made by locals after they’ve paid mortgages/rent, electricity, education costs, food and clothing costs – their discretionary spending.
To just tell locals (including businesses) to buy locally is not going to be enough to help SME’s to grow despite the benefits that spread throughout the community.
When people are doing it tough it’s understandably themselves that is the priority. If that means buying online because it’s cheaper or going without it is hard to convince them otherwise.
Could we though activate ‘The 1% Project’?
Instead of making blanket ‘Buy Local’, ‘Support Your Community’ statements; ask people to make 1% incremental adjustments. Adjustments like:
- 1% more of your discretionary spend done at local businesses than on an international website.
- Local businesses spending 1% more with local suppliers than those outside the region.
- 1% more of our social media time positively selling our region.
- Employment agencies setting a 1% higher target to get small local businesses to take advantage of the government incentives to put on a new team member.
- 1% increase in the amount we donate to local charities.
- 1% extra effort in improving our recycling efforts.
- 1% increase in the number of Neighbourhood Watch homes.
- 1% increase each week in the amount of exercise we do.
- 1% increase in the annual leave spent exploring CQ as opposed to other regions.
- 1% increase in the time we spend with our neighbours.
If 235000 people made these 1% adjustments would not the economic forecast and liveability index for CQ be a lot stronger than ‘much the same’?
A 1% adjustment is sellable?
From a marketing perspective, I believe there are good returns to be made by local non-political organisations getting behind such a project. I love to hear from any that are interested.