Russell Bell: Support Whanganui's existing businesses and budding entrepreneurs

The Innovate Whanganui finalists will make their final pitches at an event on Thursday, October 7. Photo / Supplied

Opinion:

I'm hearing a lot about encouraging some of the growing numbers of Aucklanders who want to escape the rat race (and lockdowns) to come here to live out their later years.

Yes, the idea has some merit, but wouldn't it be better to focus the same energy on supporting existing local businesses and young entrepreneurs? They would live here for a lifetime (and so might their kids). I guess what I am saying is that there are many ways to generate economic growth but the key is to generate the right types of growth.

Over the years I have been really pleased to assist local businesses who have come up with an innovative product or service or are moving quickly to take a strong foothold in the market. Likewise, I get a real sense of satisfaction from helping existing businesses and organisations plan for the future and transform their operation.

As with most things it starts with an idea and then, before too long, the idea is generating interest and satisfied customers. Curiously, as it is with most of these types of endeavours, there will come a time where the bulk of the populace will sit back and say "gee, I could have thought of that". Well, guess what? They thought of it first and put in the mahi to make it happen – and good on them.

So, when I think about some of the projects and startups which are appearing around town, I get excited that maybe there is a real opportunity for Whanganui to be established and embedded as the place for business ideas to grow.

In spite of the naysayers, of which there still remain a few, our city could be in a unique position to give rise to a new wave of economic growth in the wake of the virus (whose Greek alphabetised name I dare not speak). From our existing manufacturing power base (Heads Road etc) to harnessing and supporting innovation in the many and varied forms in which it arises – Whanganui has advantages that should be capitalised on.

One of the emerging themes is how micro-businesses are popping up and are filling the gaps caused by the attrition of traditional business models. With the support of economic development programmes and locals, these new businesses can become robust and successful here. Community groups can also work to attract businesses and our natural resources can also rise to the development of "value add" products which bring greater returns than traditional models.

On Thursday night seven local entrepreneurs will pitch their business concept to five judges at the 2021 Innovate Whanganui function. It is shaped on the Dragons Den concept but, even though there will be a winner on the night, each of the seven finalists showcases smart ideas and vision which are a fantastic asset to our community. The judges, also great business people in their own right, have a tough job but will likely share my excitement to see such talent resident here.

Having helped two of the finalists along the way – one as an idea becoming reality and the other turning tangible progress into a business plan - it is great to see their ideas come to fruition, and I hope that they will be successful on the night.

The environment needs to be right for local businesses to thrive – because if it isn't they won't be here for long. It is time to turn more of our attention to allowing the opportunities and possibilities to dominate our collective thinking. Only then can Whanganui become renowned as a place where good ideas become great business.

If you have a great idea or are starting out in business we can help you be successful. Call me on 021 244 2421.

• The Innovate Whanganui final will be livestreamed. Find out more at www.innovatewhanganui.kiwi/final-night