“We have seen some encouraging numbers: a deeper level of digital engagement does see some [positive] impact on revenue growth,” he said.
“That’s not going to go away. There are new problems to solve, new channels to market.
“New freight and logistics supply chain issues have really come to the fore.”
Cut red tape
Mr Billson said despite the massive uptake in e-commerce, there was still room for small businesses to grow.
He said state and federal governments should be looking to cut as much red tape as possible, streamlining administrative requirements, to help small businesses recover in 2022.
“You don’t want to see a business not succeed because of some needless headwind or obstacle in its road,” Mr Billson said.
This includes licensing or even governance areas, such as how to conduct AGMs.
“Even just streamlining the way you’re invoicing,” Mr Billson said.
“That piece of running a business, that can frankly be a pain in the neck, is a vital step to get cash into the business.”
But he also seemed to suggest there was little else in terms of fiscal assistance that federal and state governments could provide – apart from better policy settings and plans, such as the NSW government’s vouchers – to “revitalise” CBDs.
He said suburban communities had reaped the rewards of office workers working from home, but as companies began to call staff back into workplaces, there would be a need for central business districts and suburbs to share the spending.
He said central business districts had begun to lose their charm even before the pandemic struck and policies that helped increase their attraction to people were more likely to be effective.
“Not just to drag back demand that might have gone to regions, suburban areas and beyond, but thinking about a new value proposition,” he said.
“And that aligns with employers having to articulate why coming into the workplace [is good] … they’ve had to sweeten the appeal.”
Seller’s market for staff
With most industries struggling to attract staff, Mr Billson said it was a “seller’s market” for potential employees and employers were recognising it was a “contest for people”.
“That’s what happens,” he said, about some hospitality businesses foreshadowing steeper menu prices as they tried to lure staff with higher wages.
He also wanted small businesses to offer more opportunities to mature-aged workers to help tackle the labour shortage in the industry.
“I’ve had mature age people stop me – ‘Look, I’d love to make a contribution in the workforce’.”
With 2022 opening its doors, Mr Billson said there were strong signs the economy was on the mend and there were opportunities for small businesses.
“There’s a strong economic bounce, that’s encouraging,” he said.
