Business thrives inside the Byron bubble
BEING trapped inside the Byron Bubble may not be such a bad thing after all.
At last week's Byron Shire Council Back to Business meeting co-founder of local travel business TripADeal, Norm Black , attributed a good part of his companies success to being inside the Byron bubble.
"Being inside the Byron bubble allowed us to do it our way and not be influenced by the mainstream,” he said.
"If we had been in Sydney or one of the other capital cities we would have just been on the same train tracks as everyone else.”
"Here in Byron were were out of sight and out of mind, from potential competitors allowing us to rise up and get our head above the water before we were targeted by the big corporates.”
TriADeal topped the Australian Financial Review's 'Fast 100' list last year making them the fastest growing company in Australia and are looking at listing the company on the stock exchange with an Initial Public Offer (IPO) possibly later this year or early next year.
Mr Black also revealed the company is now heading toward a $100 million turnover, a figure that drew audible gasps and applause from other businesses present at the breakfast.
Based at Byron Bay Arts and Industry Estate with around 70 staff, most of whom live locally, community is close to the founders hearts and they insist the company will continue to be based here in Byron Bay.
"There has always been a perception that in order to get to the level of success you must leave Byron and take it to the city,” said Mr Black.
"If we proceed with our IPO this will provide a platform to reward the people who have been on this journey with us so far.”
Mayor Simon Richardson said Back to Business Week was a good example of local collaboration with events delivered by council, local chambers of commerce, individual businesses and the NSW Department of Industry.
Byron Shire's local industry gross regional product reached (GRP) $1.35 billion for the year ending June 2015. Local Industry GRP shows the value of the local economy, generated by the workers within the area regardless of where they live, after taxes and dividends leave the area.
"This local industries growth is great news and shows that Council's commitment to building Byron Shire's reputation as the place for small businesses to start, grow and employ more people is paying dividends,” he said.