The dedication and hard work by the Local Buying Foundation team behind the scenes, although not always visible, has laid a solid foundation for our regional business communities in FY24. This groundwork is crucial as we prepare to deliver funding for programs, courses and innovations across the country for the future ensuring sustained success and impact. 13 regions across Australia are now fully supported through our continual funding of projects, benefiting a total of 10,468 people directly,
this year alone.
Empowering the people behind these businesses through education, support and networking, has seen a growth in engagement within their own communities. Programs, such as Bridging the Boundaries facilitator positions in New South Wales and Queensland, remain a cornerstone of our commitment to fostering regional development. These projects are pivotal in bridging gaps and enhancing connectivity and collaboration within these communities.
Additionally, we are thrilled to announce a new funding agreement with Port Hedland Chamber of Commerce and Industry (PHCCI). This agreement will enable us to work directly with SMEs across Port Hedland and Newman through an intensive business mentoring program over the next two years. This initiative underscores our commitment to supporting small and medium enterprises, driving growth, and building resilient local economies.
With a focus on building strong, sustainable Indigenous businesses, Queensland Trading Tracks had now entered its second year of delivery. The ongoing achievements of this initiative has assisted new Indigenous businesses through mentoring programs, networking events and support services, and in November 2024, we successfully launched the WA Trading Tracks. We are looking forward to seeing the progress and expansion of this program in the Pilbara.
In pursuit of innovation, and to make our funding applications more accessible, we have adopted smart technology to streamline the process. The new, more efficient system simplifies applications as well as ensuring a seamless experience, not only for our stakeholders, but also the LBF Advisory Committees (LBFAC), as they proceed through the approval process.
Each of these achievements is a testament to the hard work and dedication of our team and partners. As we continue to move forward, we remain committed to fostering innovation, supporting local businesses, and driving sustainable growth across all the regions we serve.
I would like to thank our four LBFAC’s for their experience and guidance, but mostly for their commitment to ensuring our small, local and Indigenous business communities are more resilient than ever. The LBF is safe in their hands, and the next financial year is already looking on track to building stronger regional business communities.
Melissa Westcott, LBF Chair.
Click here to view our interactive FY24 Annual Summary or here to watch our highlights video