An experimental 'makeover' grant, trialled overseas, is now available in Australia for local businesses keen to revamp their operations.
The 'Shop Small' movement was created four years ago by American Express as a one-day event in the US, and has been successful there, in Canada and in the UK, before now coming to Australia.
Business management solutions provider MYOB has partnered with American Express and other sponsors to promote the initiative, which runs locally during the month of November.
As part of a national promotional campaign, MYOB has pledged to give away $75,000 in total to support small businesses in need of a transformation. On offer is $50,000 in business 'makeover' grants for participating local operators and $25,000 in cash prizes to reward customers who back them.
Specifically, the campaign will run as two parts: A ‘Big Heroes Shop Small’ campaign, offering five business makeover grants of $10,000 each; and 100 prizes of $250 cash to the customers of small businesses participating in the 'Shop Small' month.
The first competition asks eligible business owners to tell MYOB how a makeover will help them love their work, and take a ‘Business Selfie’ (a photo that encapsulates their business) to share via social media. A winner will be announced each week during November, with the fifth prize awarded to the most popular entry.
The second competition asks customers to fill out an entry form upon completing a transaction worth $10 or more at a participating business. Twenty-five winners will be drawn weekly during November.
However, MYOB CEO Tim Reed said the 'Shop Small' support isn’t limited to bricks and mortar, and also extends to online business.
“Shop Small strongly encourages you to visit your community shops, and we want it to also be about seeking out local businesses online,” he said.
“Figures show Australians spent more than $7 million on internet shopping at overseas stores in 2012-2013 – a significant investment that could have really benefitted local business.
“Small businesses make a major contribution to local investment, workforce development and economic growth, and many fund the livelihoods of other local people. They provide close to half of industry employment - around five million people - and contribute around one-third of our GDP. Yet they often don’t receive the attention they deserve. That’s why we’ve joined forces with the Shop Small movement to help make their business life easier.
“In Australia, we’re ranked in the top 10 of 183 economies in the world for starting a new business, getting credit and ease of doing business. But we’re also ranked in 12th position when it comes to business closes.
“We can slow the shutting of doors through encouragement and patronage,” he concluded.