What We’re Seeing in the Business Environment
The business environment across regional Victoria continues to evolve rapidly, and conversations with our members over the past month have revealed a consistent theme: pressure is real, but so is opportunity.
Across Geelong and the broader region, businesses are navigating a complex mix of rising operating costs, workforce challenges, regulatory change and continued uncertainty around economic conditions. Interest rates remain elevated compared to the ultra-low settings many businesses became accustomed to. Energy costs, insurance premiums, compliance obligations and wage pressures continue to reshape how businesses plan, invest and grow.
These pressures are not unique to Geelong, but they are being felt acutely by small and medium enterprises. SMEs carry the weight of employment, innovation and local economic activity in our region, yet they often operate with the least buffer when conditions tighten.
At the Chamber we are hearing directly from members about the real decisions being made behind the scenes. Businesses are reassessing expansion plans, reconsidering hiring timelines and looking carefully at where investment will generate the greatest return.
At the same time, there is a strong sense of resilience and ambition within the Geelong business community.
Many businesses are doubling down on capability. They are investing in technology, strengthening partnerships, building stronger networks and exploring new markets, including international opportunities. This is exactly the type of leadership that positions a region like ours to thrive through cycles, not just survive them.
For the Chamber, our role is clear.
We must continue to advocate strongly for policies that support business growth and reduce unnecessary barriers. We must create environments where meaningful connections occur between businesses, investors, government and industry leaders. And we must ensure our members have access to the insights, knowledge and relationships that help them navigate change with confidence.
Over the coming months you will see us leaning even further into this work. From strategic industry discussions and international engagement, through to professional development programs and events that bring the business community together, our focus remains on strengthening the ecosystem that supports business success in Geelong.
Business communities thrive when leaders stay connected, informed and engaged with one another.
That is exactly what we do best.
Jeremy Crawford
CEO
Geelong Chamber of Commerce
