Warrnambool has successful year of business revenue, as results boost from pre-Covid times

Warrnambool has ended the year on a high-note with a business survey showing promising results. See the figures.

Warrnambool‘s business confidence has reached a new high, according to the town’s 2022 Business Survey.

Comparing a 41 per cent pre-Covid figure in 2019, 62 per cent of respondents in 2022 considered business to be “good” or “excellent”.

Furthermore, 39 per cent of businesses expected their employee numbers to increase, compared to 23.5 per cent in 2019.

Spendings in 2021 & 2022 show significant growth, compared to pre-Covid spending.

In 2019, nearly 51 per cent of respondent businesses had low to very low confidence in Warrnambool’s business environment, but low confidence levels have fallen to 12 per cent.

All the things Warrnambool residents spend their money on. Picture: Warrnambool City Council

Mayor Debbie Arnott said these were “really encouraging findings” and it was a “great reflection of the activity” and “energy you feel in the city.”

“Equally positive was that a third of respondents said they are financially better off than they were 12 months ago, compared to 27 per cent in 2019,” she said.

“It’s a strong post-Covid resurgence and a credit to our resilient business community and to the wider community which is looking for local goods and services first.”

The survey findings were presented in full detail on Wednesday morning at a free Warrnambool Business Briefing hosted by Ms Arnott.

Also announced at the briefing was the launch of the Ideas Place Project 2022, where startups and existing businesses will have the opportunity to share their innovative ideas.

The 18-month-long, $275,000 project includes training programs, expert advice, mentoring and the chance to attend networking and evening pitching events — a mini ‘Shark Tank’.

Key stakeholders for this project include Warrnambool City Council, Moyne Shire Council, Corangamite Shire Council, Deakin University and ManuFutures, South West TAFE, Great South Coast Food and Fibre and Launch Vic.

Bohemia Cafe & Bar manager Stephen Hickman said the disadvantages of Covid were having to go to table service, which creates an issue with staff, as businesses require more staff for table service.

“More staff means more wages and more wages means more costs,” Mr Hickman said.

“Our post-Covid results are solid or slightly better than pre-Covid which is good to see.

“If you’ve got a poor product they’ll desert you quickly, but if you’ve got a good product they will keep coming back.

“When you’re looking into figures and what you’re bringing in, you also have to look at what you’re paying out and it’s the net profit you make at the end of the day that matters and the net profit is very tight.”