In recent years, the rapid uptake of digital technologies, including significant growth in online sales, cloud computing and remote working has led to unprecedented levels of business innovation. Businesses that have adapted and increased digital capability have shown increased resilience in the face of major disruptions.
Small businesses who do not become digitally capable and lack capacity to transform their business models to suit changing times, risk being left behind. Thus, we risk increased disparity and divide between digitally competent businesses and communities and those who are not equipped with the skills and tools to take advantage of the competitive edge created through effective use of new technologies including AI and automation.
Sustainable ways of operating have become the new norm. Consumers are preferencing businesses who can demonstrate green or regenerative principles and practises with many prepared to pay more for products and services which align with their ethics and values.
Climate change is driving unprecedented and critically important growth in the regenerative economy, offering the potential to reinvigorate and diversify our economies and generating enormous opportunity for improvements in regional economic prosperity – particularly for equity groups including First Nations businesses.
Health and Wellbeing
It has never been more important to retain valued staff. Given the skills and labour shortages being experienced across all business sectors, Employers do not want to lose existing staff and increase their vulnerability and risk exposure in terms of not being able to meet business goals due to lack of staff.
By increasing managerial capacities around creating diverse and healthy workplaces and managing health and well-being, organisations will improve workplace culture and opportunities for employees. Staff are the key driver of organisational performance and service excellence and will provide the competitive advantage to allow for strong growth and sustainability. Therefore, there is a need to cultivate businesses to embrace coaching/training their Managers and Supervisions to be progressive, proactive and truly committed to the provision of a supportive workplace environment that embraces diversity of all kinds.
Support from IPS Business Advisory
IPS Business Advisory’s strengths in supplier diversity, leadership, business development and policy and evaluation will support businesses to thrive in new industries, build sustainability practices and adopt a holistic approach to local and global wellness in every area of their supply chains. Our team encourages businesses to take action and prosper now and in the future, and thus, improve their efficiency and competitiveness in changing global business ecosystems.
The CREATE program is a completely unique program designed to amplify, honour and accelerate the unique power and potential of Aboriginal businesses. CREATE supports and inspires new Indigenous ventures; offers ground-breaking capacity building opportunities in the Indigenous business ecosystem; and uncovers, nurtures and champions latent and hidden talent in Indigenous entrepreneurs. CREATE offers a solid foundation from which Indigenous entrepreneurs can refine ideas and access education in new industries and new enterprise.