The ever increasing amount of vacant retails and office premises in the Young central business area should be causing concern for the Young Chamber of Commerce, Young Shire Council and the remaining local small businesses that are no doubt feeling the effects of the downturn in consumer confidence, the increase in online shopping and the reduction in profit margins as customers are forced to budget their disposable income.

Of course, Young is not alone. Many of Australia’s major retailers and shopping centres are feeling the effects of a changing retail environment, but the question is – not the problem – what can we do about this problem before it has a compounding effect on our remaining commercial enterprises?

The lack of confidence in the local business community was evident as far back as June and July last year when plans for the Bi-Annual Home Trade and Leisure Fair, designed to promote what services and products our local businesses supply to the region, had to be scrapped because of a lack of confidence amongst local businesses.

The situation has been allowed to deteriorate since then, resulting in around 20 retail premises becoming vacant in Young CBD at present — some for long periods of time — with what appears to be little visible evidence of any action to address the problem from escalating into an irreversible downturn that will take years to rectify.

Firstly, there needs to be a concerted effort by the Young Chamber of Commerce and Young Shire Council Economic Development department to develop a campaign and incentive program to encourage successful businesses, both regional and national, to consider establishing outlets in the town, particularly businesses that are either not represented, or under represented on a local basis.

Secondly, the relaxation of local government regulations and laws that hinder or render the establishment of small businesses, therefore stifling innovation and competition.

Thirdly, landlords and property owners need to be more realistic when determining rental and lease arrangements with prospective tenants, to encourage the take-up of empty premises and upgrade their premises to meet tenant and customer expectations.