Several events this week have sparked interest and will hopefully ignite a bright economic future for the local area.
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The Bega Valley Economic Summit began in earnest on Thursday, and continues today (Friday, July 29).
A range of high-profile business leaders and finance industry spokespeople waxed lyrical on the great potential recent investment is bringing to the Valley, and how local businesses and communities can leverage it.
We’ll have more on the summit after its conclusion and businesses have had time to digest its learnings and implications.
However, one of the more immediate tangible items to come from Thursday’s discussions was the Bega Valley Microcredit Program.
Launched by Mayor Michael Britten and Anna Pino from Lighthouse Innovation, the microcredit program is bound to give the region’s burgeoning entrepreneur sector a big leg up.
Small low-cost loans of up to $3000 are to be made available for new and developing businesses in the Bega Valley.
They will be sourced from a funding pool courtesy of Bendigo Bank and the Snow Foundation, and administered by the BVSC and Bendigo.
These micro-loans aren’t just for young up-and-coming entrepreneurs, but anyone in need of a little assistance in getting their business idea to the next level.
Given the Valley’s recent history of creative IT solutions, app development and digital entrepreneurship, the availability of this helping hand is sure to prove invaluable.
Meanwhile, at the other end of the economic spectrum – and completely coincidentally we hear – a local trading scheme is also making headlines this week.
The Bega Valley LETS – Local Exchange Trading System – was founded in 1989, but is experiencing a rebirth.
The local “currency” is based on a system of goods and services exchanged for “Sapphires”.
The Sapphires are earned, saved and traded among mailing list members of BVLETS, stimulating social activity and inclusion, as well as claiming to ensure local “wealth” is kept local.
And when we speak of wealth, that goes beyond mere dollars.
We’re talking here of the wealth of community – its skills, produce, creativity and willingness to lend a hand as well as a dollar.
And that’s worth investing in!