AS COVID-19 cases across Victoria continue to decrease, there are urgent calls for health and fitness facilities including personal training to be reclassified as an essential service ahead of Stage 3 restrictions to help Victorians look after their mental and physical health and wellbeing.

Leading the call is the fitness industry’s peak organisation, Fitness Australia, which has been fiercely advocating for the industry and the vital role gyms, and access to a broad range of professional training options such as personal training, have on the long-term health and wellbeing of the community.

According to Fitness Australia CEO Barrie Elvish, gyms, health clubs, fitness centres and studios such as yoga, pilates and barre should not be classified within the current ‘physical recreational facilities’ category.

“The classification of health and fitness facilities needs urgent review, we are calling on the Victorian Government to reclassify them as ‘Health and Fitness Centres’ in the Restricted Activity Directions and be allowed to operate in the same way as other essential health services such as osteopathy, physiotherapy, dietetics and mental health services,” Mr Elvish said.

“For many people in our community, especially those managing a range of physical and mental health issues, going to the gym, completing regular sessions with a personal trainer or participating in a live or virtual class are seen as an essential support service. Yet under the current classification, the industry is restricted from providing this vital support service.”

Mr Elvish said many other industries were currently permitted to provide a service to their customer, such as fulfilling online orders from a business location, but personal trainers cannot do anything.

“How is it reasonable for businesses to be allowed access to their facilities to pack online orders or for religious groups to live stream content with up to five people, but personal trainers or fitness studio’s cannot safely access their business to film or stream workouts or group classes?” Mr Elvish said.

“While the current abnormalities are frustrating and detrimental to our industry and the community, our focus as an industry is on seeking action from the Victorian Government for reclassification ahead of moving to Stage 3 restrictions.

“The focus needs to be on the health and wellbeing of all Victorians and the current Stage 4 and Stage 3 restrictions deem access to health and fitness services non-essential and prohibited.

“Health and fitness centres are low risk when it comes to COVID-19 and the industry is willing to do whatever it takes to provide a safety and hygienic environment for members and employees.”

Mr Elvish said recent data from a random sample of NSW operators proved gyms are safe and not a high-risk place of transmission.

“Recent Fitness Australia research found there have been more than 6.26 million check-ins across 423 gyms since they reopened in NSW on 13 June. During that same period there had been zero cases of reported community transmission in a gym,” Mr Elvish said.

The Fitness Australia data was validated by electronic swipes, used by all members for access, which also provides for sophisticated contact tracing should it be required.

Mr Elvish said gyms and personal trainers played a very important role in helping people maintain their mental health, strengthen their immune function, and overall wellbeing and called on the Victorian Governments to engage the industry positively rather than label it negatively.

“Since the beginning of COVID-19, Fitness Australia has been focused on promoting the important role the fitness industry plays in the overall health of our nation. We are not part of the problem; we are actually part of the solution to getting more Australians more active more often and help prevent long-term lifestyle-related disease,” Mr Elvish said.

“By working with Fitness Australia, the Victorian Government can continue to promote the overall health and safety of the community, not just when it comes to protecting them during a pandemic.”

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LEADING wealth manager Atlas Advisors Australia has welcomed the Australian Government’s decision to make an interim allocation of places under the Business Innovation and Investment Program (BIIP) ahead of the Budget to assist in driving economic growth amidst the challenges of the pandemic and falls in migration.

Executive chairman of Atlas Advisors Australia, Guy Hedley said the Australian Government's recent decision to allocate places for Significant Investor Visas and Investor Visas recognised the critical role the BIIP could play in offsetting the economic impact of a significant drop in migration.

“This important step can alleviate the loss of capital as a result of lower migration levels while corresponding with the Australian Government's objectives to reduce overall migrant numbers,” Mr Hedley said.

The current cap on the BIIP numbers should be lifted and the processing of applications sped up to draw in vital investment for venture capital funds to fuel the post-pandemic economy.

“There is a severe ongoing shortage of early stage venture capital and the BIIP can be a sustainable and lucrative source,” he said.

“Greater investment in venture capital is critical to encourage innovation that helps companies pull through difficult economic periods while also providing the underpinnings for future jobs and revenue.

“Without further immediate action, Australia risks losing vital capital and trade opportunities to other countries with better incentives to attract high net worth investors in today’s highly competitive market for capital.”

About Atlas Advisors Australia

Atlas Advisors Australia is a funds manager and investment advisory business, operating between China and Australia, offering a wide range of financial services and wealth management solutions. With operations in Sydney and Melbourne in Australia and Shanghai in China, Atlas is able to support investors in all China and Australia locations.

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STOIC Venture Capital has taken part in a $3.5 million Series A funding round for Australian biotechnology company Ferronova Pty Ltd.

The funding round was led by Uniseed, where Stoic Venture Capital is the co-investment fund. Uniseed is a commercialisation fund which focuses on financing early-stage companies that emerge from member universities.

Ferronova’s technology has the potential to transform care for early stage cancer patients in complex cancers such as colorectal cancer. The company originated from landmark research by the Victoria University of Wellington and the University of South Australia.

Stoic Venture Capital Partner Geoff Waring said the venture capital fund’s portfolio expanded dramatically to a total of 17 companies in the past two years with a primary focus on healthcare.

• Around 145,000 new cases of cancer are expected to be diagnosed and just under 50,000 people are expected to die from cancer in 2020;
• Colorectal cancer is Australia's second-highest causeof cancer-related deaths of people aged between 50 to 54. 

“Ferronova is a visionary Australian company with technology solutions that are advancing the detection, diagnosis and treatment of early stage cancer,” Dr Waring said. 

“We support the growth of healthcare companies that are changing outcomes and improving the lives of patients.”

Dr Waring said Stoic Venture Capital would continue to have a big allocation to healthcare opportunities.

“Healthcare remains a resilient and high potential asset class. Evidence-backed medical technology creates alternative models of care and prevention," Dr Waring said.

“Importantly, our investments are also contributing to the pioneering of new research and development in medicine and science to help more patients in the future.”

About Stoic Venture Capital

Stoic Venture Capital provides financing for early-stage companies, particularly those arising from university research. Stoic is unconditionally registered as an Early Stage Venture Capital Limited Partnership (ESVCLP) and takes a collaborative approach to investing in the highest potential companies.

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THE Australian Small Business and Family Enterprise Ombudsman’s Insurance Inquiry has attracted a huge public response, with more than 700 surveys completed by small businesses so far.

Ombudsman Kate Carnell said small businesses have until Sunday (August 30, 2020) to share their experiences with insurance providers by completing the online survey.

“We’ve had an overwhelming response to this inquiry since we launched it earlier this month, which shows how big an issue insurance accessibility is for small businesses,” Ms Carnell said.

“The feedback we’ve had from small businesses so far has been insightful and concerning, with many small businesses claiming to have been denied insurance outright.

“This is particularly the case for many small businesses seeking public liability insurance, which is essential to continue their operations.

“We’ve heard from a number of small businesses that have been unable to get insurance for natural disasters," Ms Carnell said.

“Cost has also emerged as a major issue, with many small businesses complaining their insurance premiums have doubled or even tripled in just a few years.

 “Over the coming months we will be investigating these claims and examining if small business insurance products are fit for purpose.

“Of serious concern has been the number of small businesses that have had their insurance policies substantially changed, reducing the level of coverage, without their consent and with no refund of premiums. Our inquiry will determine if these practices amount to Unfair Contract Terms.”

Small and family businesses that have experienced difficulties with their insurance provider have until August 30, 2020, to complete the ASBFEOonline survey or email This email address is being protected from spambots. You need JavaScript enabled to view it.

A final report is scheduled for release in December.

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