The key to overcoming downturns caused by cuts to the public service is to capitalise on the smart industries already in Canberra and to turn local companies into leaders in their fields, according to the newly appointed chairman of the Canberra Business Chamber.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Co-founder of Aspen Medical and 2015 ACT Australian of the Year Glenn Keys has taken over the leadership of the territory's amalgamated peak business lobby group, and says despite recent economic gloom there are plenty of opportunities for local businesses to grow in the current climate.
Mr Keys, whose company has been running ebola treatment clinics in west Africa on behalf of the Australian government, has recently returned from the Liberian capital of Monrovia where staff have managed to reduce the mortality rate from 90 per cent to 50 per cent.
"At the clinic, once the survivors are cleared, they have what's called a freedom shower, their clothes are destroyed and they're given new ones, and then they have to pick a colour and add their hand print to the survivor wall. When you see all those hand prints together, it's very powerful."
Keys, who together with old school friend Dr Andrew Walker started Aspen Medical from the kitchen table of his Canberra home, said projects like light rail, redevelopment of the entertainment area around the casino and construction along the Northbourne Avenue corridor present opportunities for local businesses, which need to work out how to take advantage of them.
"There's an enourmous amount of development going out over the next five to seven years, and the urban renewal that's happening in some of the big centres, I think there's scope for that to be pushed out further to some of the smaller suburban areas as well. There are certainly opportunites there for us to partner with government and for smart technology to be used on transport, utilities and getting the best out of our buildings."
He said Canberra was already blessed with high-quality smart industries including software developers, a strong education sector and IT services. Those needed to be leveraged to take advantage of the major projects under way, and it was important businesses reliant on the Commonwealth look to diversify.
"You can't always eat from just one rice bowl. One of the ways Canberra businesses can protect themselves from things like cuts to the public service is to grow their businesses outside the ACT. I still remember reading about the day when the number of people employed in the private sector overtook the public sector, and we need to ensure that government spending becomes just one of those levers that affect business."
Mr Keys said there would be three main areas of focus in his leadership of the chamber: supporting all businesses big and small with a unified voice; social enterprise, such as taking advantage of the introduction of the National Disability Insurance Scheme and creating opportunities for those with a disability to get more involved in businesses; and making Canberra a more attractive destination for tourists and businesses.
On the vexed issue of when Canberra might get a replacement for its ageing convention centre, Mr Keys said momentum around the City to the Lake project and associated development was building, and it was a question of when, not if, a new facility would be built.
"I think ultimately it will happen as a three-way partnership between the federal government, the ACT government and private partners, and I'm optimistic it will be sooner rather than later," he said.
