THE loyalty of Tamworth customers has placed the city’s businesses among the strongest in the state.
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Tamworth businesses are 50 per cent less likely to be on the brink of collapse compared to Sydney businesses, a report by SVP Partners revealed.
Only 1.6 per cent of Tamworth’s accommodation and food service businesses – the most at-risk industry state-wide – are on the verge of imminent financial failure, compared with 7.3 per cent in Sydney.
It’s been just over a year since the Hopscotch Cafe opened and owner Jay Lynch said he loved the loyalty of the Tamworth community.
“If you give them a good product and great service, then people will stick by you – you’ll have them for life, as long as you treat people well,” Mr Lynch said.
Peel TV owner John Szyc has been doing business in Tamworth since the 1970s, and has served three generations of customers.
“I’m doing business for grandkids who use to come in with their grandparents,” Mr Szyc said.
“We’re very pleased – 80 per cent of our business is existing customers. We’re doing more business now than ever before.”
Mr Lynch said Tamworth’s other strength was the “forward thinking” and “progressive” business community, which was incredibly supportive of new enterprises – “the rising tide lifts all boats”.
“There is an understanding that the more businesses there are in town, the better it is for everyone,” he said.
“Having a business community that is open-minded, forward thinking and progressive attracts similar people, which is a positive thing.
Mr Lynch said that attitude was particularly evident in the city’s food scene.
“If there are two good restaurants, people will come out occasionally to eat – if there are five good restaurants, people get more in the habit of going out, more often,” he said.
Tamworth Business Chamber president Jye Segboer said five years ago, everyone in Sydney was talking up Newcastle as the place to invest – now, it’s Tamworth on the investor’s radar.
“We are entering an era of what will be Tamworth’s fastest growth period,” Mr Segboer told The Leader.
“We’re seeing massive investment from big city investors with the sale of commercial property such as KFC and Centrepoint Shopping Centre at record high property prices.”
The business chamber signed up seven new members in February, which is up from three the same time last year.
“It’s another strong sign that business is growing through support of the local economy,” Mr Segboer said.