Keston Economics in Albany, Western Australia | Business consultant

Keston Economics

Locality: Albany, Western Australia

Phone: +61 8 9841 1786

Address: 133/135 York St 6330 Albany, WA, Australia

Website: https://www.keston-economics.com

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20.01.2022 It is such a fantastic honour to have won the category for best business with 0-4 employees and be finalists for business of year at the 2020 Albany Chamber of Commerce Business Awards on Saturday night! We are humbled by the recognition and so appreciative for the opportunities it provides us. Thank you to the amazing team at Albany Chamber of Commerce & Industry for putting on such a wonderful gala event. Thank you to all the sponsors, especially Harvey Norman Albany for sp...onsoring our category. Thanks to Gertrude WellEase for your energy and flamboyance as presenter for the evening, an integral part of what made the night so special and entertaining. Thanks also to the Albany Entertainment Centre for catering the event. And a special thanks and shout out for the support we have received from the Albany Business Centre to get where we are today, including your nomination for the award. We'd also like to thank the judges for donating their time and for acknowledging the value Keston Economics has provided the region. Congratulations to the other finalists for the 0-4 employees category. Both Evolved Wellbeing and Rule the Books are more than worthy contenders, and I am sure it was a very difficult for the judges to make their final determination. Congratulations also to Handasyde's for taking home the business of the year award and winning your tourism award category! We are so happy that your contributions to the Great Southern tourism industry (and its residents through a great number of employment opportunities and delicious treats) have not gone unnoticed. And finally, congratulations to all other very deserving finalists and winners for other categories. There are so many unique and dynamic small business making our beautiful region the amazing and engaging place it is; particularly in their contributions to a thriving economy despite the trials experienced across the globe over the last year. We couldn't be more proud to be a part of it with you, and look forward to another decade of positive development and growth for all.

19.01.2022 Is it time to update your organisation’s strategic plan? No matter who you are or what you do (public, private, not for profit, academic), strategic planning is imperative to successful and sustainable operations. In order to make effective and informed decisions based on regularly changing market trends and drivers, a full strategic planning process should be conducted at least once every three years, and ideally would cover a five-year period. More frequent (e.g. annual) st...rategic planning should be undertaken if you exist in a sphere with rapidly changing industries (e.g. Information and Communications Technology), or if unforeseen circumstances change the way you deliver your products or services (e.g. Covid-19, external industry/technology/mode of delivery innovation, etc.). Informed strategic planning means you have clearly researched your market/industry and have identified applicable gaps, trends, drivers, changes, competitors, and other key factors that will determine your next objectives, help you prioritise them, and generally help you improve your product and service options for consumers; ensuring you remain relevant, competitive and/or can grow your organisation. Effective strategic planning means that you have identified areas for organisational improvement and outlined measurable objectives to move forward. Objectives should be prioritised based on their achievability, importance, cost, team capacity, and other key factors, and clear actions outlined to achieve them. An action plan, as part of your wider strategic planning process, makes recommendations to achieve objectives, identifies the personnel that are required to achieve them, lays out individual roles and responsibilities, and sets clear, achievable milestones and timeframes for delivery. Feel free to use the questions and guidance in the images below as a template for the development of your strategic plans. If you would like any further assistance, or a review and recommendations for an existing strategic plan, don’t hesitate to contact us for a free initial consult [email protected] (www.keston-economics.com).

17.01.2022 Through its grant application and business case writing services, Keston Economics has facilitated the funding of over 60 infrastructure and community development projects within our Great Southern region over the last decade. Key projects include the Middleton Beach Albany Foreshore Enhancement, Centennial Park Stage 1-3 developments (including the Centennial Stadium Sporting Precinct), The Amazing South Coast Albany Visitor Centre relocation, Great Southern Housing Initiati...ve, Katanning Regional Sheep Saleyards, Field of Light Albany, Tambellup Sports Ground, Denmark Surf Life Saving Club, FathomCo manager and three year operations plan, Katanning Regional Entertainment Centre, Albany Student Housing (Stage 1 Cheynes Cottage and Stage 2 Serpentine Road), and Plantagenet Village Homes Collet Barker Court Stage 1-3 aged care accommodation. Thank you to the wonderful local organisation's who have trusted us to assist in delivering their projects over the years. It has been a pleasure contributing to the development of our community and economy with you.

15.01.2022 So exactly how important is it to buy local and encourage local employment? The Australian Bureau of Statistics household expenditure survey estimates that the average household spends $40,000 per year on a broad range of consumer goods and services. Of this, consumers estimate that 24.6% of their spending is with local small business. Better still, spending on local products and services provides significant value for local economies. Known as the Boomerang Dollar effect, t...he American Express (2019) Shop Small report finds that 45 cents of every dollar in Australian local business turnover is reinvested locally. This amounts to $57.7 billion that small businesses have contributed to their local economy in 2018 alone (up from $37.3 billon in 2017). Whether it's toys, clothes and nursery items for your new baby (Bebe Bits), your next loaf of bread (Bredco), pint of milk (Yard 86), wheel of cheese (Porongurup Pure) or cut of beef (Plantagenet Meats), night out (Majuba Bistro and Pepper & Salt Restaurant), catering or snacks on the run (Market Grill), groceries (IGA - York St), gifts for family and friends (Stamms EMPORIUM and La Botanic Albany), art (Blush Retail Gallery), business support, workshops and advocacy (Business Great Southern, Albany Chamber of Commerce & Industry, Denmark Chamber of Commerce, and Katanning Regional Business Association - KRBA), coworking and networking space (Albany Business Centre and Ideation Co.), tax accounting (Albany Accountants - Smith Thornton Accountants), dancing lessons (Antonia's Dance Studio), clothing alterations (Ashley Whiting Creative), wine, beer or spirits (Alkoomi Wines, Artisan Brewing and Great Southern Distilling Company), wedding inspiration (The Wedding Collective - Great Southern), first home or investment property (Elders Real Estate Albany), settlement and conveyancing needs (HR Settlements), insurance (Elders Insurance Katanning), or will, estate and succession planning (Great Southern Wills), always remember to buy local first. From cradle to grave, the Great Southern region is brimming with fantastic local produce and consumer, personal and professional services, many of which are developing strong national and international reputations. Why take your business elsewhere if you don't have to?

13.01.2022 Need to develop a business plan, strategic plan or risk management plan to develop your business and/or idea but don't have the cash to hire an expert? There are still two days left to apply for Department of Primary Industries and Regional Development - DPIRD's Agrifood and Beverage Voucher Program! Western Australian food and beverage manufacturers can apply for vouchers valued up to $10,000 to engage consultants or technical experts to help grow their business. The Agrifoo...d and Beverage Voucher Program supports Small to Medium Enterprises (SMEs) across regional and metro WA to overcome potential barriers to growth, reduce risks around planned expenditure and capture new opportunities for growth. https://www.agric.wa.gov.au/AFBvoucherprogram

13.01.2022 If you are a private enterprise, not for profit, local government authority, there are many grant opportunities available to fund your next infrastructure, product or service development. Grants are also available to assist with Covid-19 related challenges faced by your organisation, such as the Regional Economic Development (RED) Grants program. The Great Southern Development Commission has released a new register of grants available for Great Southern organisations, many of which are also applicable to organisations at a wider state or national level. https://www.gsdc.wa.gov.au//20200520-gsdc_grants_register.

12.01.2022 Do you have a strategic plan hiding in your bottom drawer? Don’t fall into the same trap as countless other organisations; never or barely reading it to begin with, or never picking it up again for review. Your strategic plan is one of the most important documents you have to assist in informed and effective decision making. A well developed strategic plan will clearly outline the sphere you exist in, identify areas for organisational development, establish and prioritise obj...ectives, and make clear, achievable and timed plans of action. It will be realistic, attainable and detailed. The size of your strategic plan may put you off, and if it isn’t a lengthy document, it isn’t informed or effective. However, the whole document is not there to be regularly digested, it is only there to provide the background, research and justification for the action plan; the recommendations for reaching prioritised objectives. The important part, the bit you need to review, is the succinct executive summary or infographic developed to contain the most important information and actions to follow. Viable and sustainable organisations that truly grow and improve their products and services for consumers, are those that review, revise and follow the objectives and recommendations set in their strategic plan at least once every three months. It should be an obligation for every board to do so, but most sadly only develop the plan because they must, not because they actually understand its significance.

11.01.2022 Great news for all the data lovers out there! Tourism Western Australia has just published its 2017/18/19 fact sheet for the Great Southern Development Commission Area, 8 other Regional Development Commission Areas and the Perth Metropolitan Development Commission Area. https://www.tourism.wa.gov.au//Development-Fact-Sheets.asp Although these statistics are likely to experience significant change in the coming years as a result of Covid-19, it's certainly not all bad news.... Leading global economists agree that domestic travel is going to become more pronounced than ever as we tackle ongoing border restrictions and long-term travel disruptions. With intrastate travel already making up a significant contribution (84%) to Great Southern visitation, we can expect exceptional growth in this market as those that usually travel interstate or overseas look for exciting destinations closer to home. Importantly, although staying less nights, they spend considerably more than their international counterparts. The only questions now remain; how do we get them through our doors? How do we ensure they buy our products and services? How do we capitalise on the very real, and already evident, coming surge in domestic intrastate visitation? The Amazing South Coast; Great Southern Centre for Outdoor Recreation Excellence; Discover Denmark WA

09.01.2022 The Government of Western Australia (delivered through the Great Southern Development Commission and the other 8 regional development commissions throughout Western Australia) has opened Round 3 applications for the Regional Economic Development (RED) Grant program as part of Royalties for Regions: https://www.gsdc.wa.gov.au/our-activiti/funding/red-grants/ Funding is available for private sector businesses, not for profits, and local government authorities. Eligible applic...ants can apply for RED Grants funding of up to $200,000 for individual projects, with applications closing on the 7th of July 2020. A minimum 30% cash contribution is required to the project (not-for-profit organisations may be considered on a case-by-case basis). The Government is looking for individual projects that: - Contribute to sustainable jobs - Expand or diversify industry - Develop skills and capability - Attract new investment - Maximise recovery from COVID-19 impacts to the region.

03.01.2022 If anyone is looking to better understand their tax requirements leading up to the end of financial year, Business Great Southern is putting on a Free Tax and Tacos event this evening, teaming up with very talented local food vendor Market Grill. Follow the links in the event post to get your free tickets now. "COVID-19 has affected more than just the loo roll aisle at the shop, and we want to make sure you are prepped and ready for tax time this year. We're here to help take... the stress out of it for you. We'll be providing extra info on what the go is this year, what changes have been made, we'll give you a checklist and a bunch of resources that will put you ahead. Spaces are limited for this one, so please RSVP correctly. Your first two tacos are on us, but Geoff has told us he won't ration anyone, if you want more he will whip 'em up for you. We'll put on some cold beverages and be here to help you through things"

02.01.2022 Did you know that the Great Southern region has the most dynamic small business community in the state? In 2019/20, there were 111 small businesses (0-19 employees) per 1,000 residents in the region, well above the state average of 86 and the highest of any region in WA (extrapolated from REMPLAN 2020 data). Small business represents 97.8% of all business activity in the region. This reflects the region’s strong commercial and entrepreneurial culture, the creation of small b...usiness for lifestyle reasons and exposure to industries dominated by small businesses. Because of this strength, the region is not structurally reliant on a few large employers. A 50% share of business within the Great Southern is in the City of Albany. Of this, 97.2% are small businesses, with 89 small businesses per thousand residents, lower than the regional average but still higher than the state average. In no small part, Albany Business Centre support this dynamic regional community as a business incubator; through free small business consults, heavily discounted office and workshop rates, commercial kitchen and conference room hire. Pictured are Bredco, Jacky's Clip 'n' Dip and Ashley Whiting Creative, all current tenants of the Albany Business Centre.