BUSINESS is booming in Ipswich.
New businesses open every week and while not all make it, the sector is growing rapidly along with the city’s population.
The arrival of US grocery giant Costco in late 2018 is tipped to bring a surge in business opportunities, but Ipswich is already thriving on its own.
There are a few key areas of growth including food agribusiness and hospitality.
Ipswich consumers are showing there’s plenty of space for new hair and beauty businesses too.
Membership in the Ipswich Chamber of Commerce and Industry is growing at a rate of 26% year on year.
While there’s diversity among the new businesses, according to the Chamber of Commerce there are two particular types swelling the membership ranks.
Chamber president Phillip Bell said retail services, such as hair and beauty, and professional services related to businesses, including financial services and bookkeeping, had seen a big boost.
“Our membership is continuing to grow in strength every year,” Mr Bell said.
“Although more than 60% of our new members fall into two categories, we are also seeing growth in food agribusiness and hospitality.
“We identified this significant growth about six months ago – we’ve been in a cycle of growth.”
In just one month, the QT has published stories on more than six new businesses.
Two new nightclubs have also just opened in the Top of Town with more CBD watering holes rumoured to be on the way.
According to Ipswich City Council’s last annual report, in 2015-2016 there were 7,946 local businesses within the city limits.
Some of those new businesses are the result of innovation as struggling operators seize the opportunities in front of them rather than allowing their business to slowly collapse.
Mr Bell said there were multiple factors driving the growth including the affordability of doing business in this region.
“It’s not just about the low rent costs, it’s that you don’t have to go outside the region to access other markets,” Mr Bell said.
“I keep reminding people that here, we have excellent access to markets.
“We are between three major international airports at Wellcamp, Brisbane and the Gold Coast.
We will have great supply lines via the second Toowoomba Range Crossing, as well as the major highways, and freight and logistic hubs.”
Ready to start a business?
Running your own business can be a rewarding experience. It can also mean exposure to new risks, long hours, hard work and frequent challenges. Before you start your business, it is important that you consider the reality, and the challenges, of running a business. See www.business.qld.gov.au for more information or ipswichchamber.org.au to speak to someone locally.
Originally Published: www.qt.com.au