Harvard academic, e-book at launch of Qld Small Business Week

 

THE Queensland Government is celebrating 2014 Queensland Small Business Week in Brisbane today by releasing a book showcasing some of the state’s brightest stars.

Queensland Premier Campbell Newman released the e-book, entitled Shining bright: a celebration of Queensland’s small business, at the official launch of the Week at Ithaca Auditorium, City Hall at 12.30pm.

Minister for Tourism, Major Events, Small Business and the Commonwealth Games Jann Stuckey MP said 17 businesses in Brisbane, Townsville, Gold Coast, Moranbah, Mt Isa, Roma, Cairns, Rockhampton, Toowoomba, Yandina, and Tully were chosen for their great stories of success.

“Small businesses are critical to growing Queensland’s four pillar industries – tourism, agriculture, resources and construction – and form a key part of the supply chains for larger projects,” Ms Stuckey said.

“With approximately 403,000 small business in Queensland, they span every industry sector and employ around 50 percent of all private sector workers.

"Shining bright highlights how these businesses have made a positive contribution to their local community.”

About 200 guests attended the event When Small Business Thinks BIG, featuring an address by Professor Josh Lerner, Jacob H. Schiff Professor of Investment Banking at Harvard Business School and head of the Entrepreneurial Management Unit.

Professor Lerner is a member of the World Economic Forum, at which he presents annually on small business issues and entrepreneurship.

He has drawn on his vast experience running Harvard’s flagship executive education program for smaller, fast-growing businesses to provide insight into how business can flourish when it thinks “big”.

Speaking in the lead-up to the event, Professor Lerner emphasised the importance of entrepreneurship to the country’s economic growth and vitality and the role governments play in recognising that importance and adjusting policies to support it.

Professor Lerner said Queensland was “region which has many blessings, not least of which is its abundant natural resources".

“But if the region is to thrive over the next century, it almost surely will have to bolster its entrepreneurial sector: around the world, these ventures have been a key source of economic growth, additional employment, and innovation,” he said.

“Thus, 2014 Queensland Small Business Week effort is an important initiative to boost this vital sector of the economy.”

Professor Lerner said there was no “secret source” or one formula that translates into entrepreneurial success.

“The proper recipe is likely to vary with the structure of the industry and nature of the opportunity that the firm is pursuing,” he said.

“Nonetheless, there have been some recent insights as to what strategies characterize successful entrepreneurs.

“One of the key messages that has emerged in recent work is the importance of experimentation.

“Entrepreneurs are unlikely to have the resources to undertake the kind of comprehensive study and massive launches of new products and services that characterize major corporations.

“But they can move more rapidly, and adjust quickly to what they learn from the market, which gives them a critical advantage.”

2014 Queensland Small Business Week recognises the role small business plays in the Queensland economy.

Business owners are attending more than 200 events and activities across Queensland during the Week, all of which are designed to either inspire them, or help to build their business.

Minister Stuckey will host an event on the Sunshine Coast tomorrow with US CEO of TerraCycle, Tom Szaky, and in Roma on Friday with Matthew Hayden.

The e-book can downloaded free from the Queensland Government Business and Industry Portal www.business.gov.au/smallbusinessweek

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