South Australian program providing jobs and revenue for SMEs

A business growth program funded by the Growing South Australia’s Companies (GSAC) initiative of the South Australian state government is helping create new jobs, as well as increase revenue for SMEs who participated in the program.

The business growth program at the Australian Centre for Business Growth (AUCBG) received a $4.2 million grant in 2016 to sponsor South Australian SMEs to attend growth programs offered by the Centre. Since then, 387 companies have attended an one of their “assessment clinics” and 90 continued on to participate in their “growth modules” which help company CEOs and executives plan for rapid growth.

Since the program began five years ago. AUCBG’s program has helped SMEs generate at least 1398 new jobs and increase their export revenue by more than $33 million and generated $51 million in company profits.

Companies from all over South Australia have attended the GSAC programs, such as Seed Terminator in Kingscote, Golden North Ice Cream in Laura, Dominic Wines in the Riverland, and Kojo in Adelaide.

UniSA Vice Chancellor David Lloyd said that the program was highly effective at helping spur SME growth in the state.

“The small and medium companies that enrolled in the Australian Centre for Business Growth’s programs are growing rapidly, creating jobs, and generating millions of dollars in additional taxes,” Chancellor Lloyd said.

“It is a testament to the potential of South Australia that our SMEs can benefit from highly effective programs right here in the state. The outcomes recorded by the Centre suggest that programs that teach company owners and managers how to grow their businesses can contribute to a healthy economy.”

ANZ Chair in Business Growth and Director of UniSA’s Australian Centre for Business Growth Professor Jana Matthews said the State Government support made it possible for the program to achieve such a success as it delivered results to many companies in 17 industries across the State.

“We are delighted to be able to report that data provided by a third of these companies show that they have created 1398 jobs, increased profit by $51 million, and increased their exports by $33 million,” Professor Matthews said.

“Their performance demonstrates that, once CEOs and their executive team members are given the knowledge, tools and skills, and learn how to drive growth, they become confident in their ability to grow their business,” Prfessor Matthews added. “It is an honour and a privilege to help so many South Australian companies learn how to achieve their growth potential and become the job-builders our economy needs.”

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