Hundreds of Northern Tasmanian business owners were educated on how they can build and evolve their businesses during a growth seminar at the Country Club Resort on Thursday.
Coordinated by ANZ and the Australian Centre for Business Growth, the seminar served as a dialogue for businessmen and women to take advantage of the growing economy.
Director of the Australian Centre for Business Growth Dr Jana Matthews was the keynote speaker. She said the key message for attending business owners was to avail themselves of the opportunities that are around them.
"Many people who have started a company get stuck because they keep doing the things that made them a successful startup when in fact they need to switch into a new leadership role," Dr Matthews said.
"It's like when you're driving - you can putter along on first gear, but if you want to get faster and get on the highway you need to shift into second, third, fourth and then overdrive.
"We are teaching people how to read the signs ... who are the people they need to be hiring in if they want to support and grow."
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Both Treasurer Peter Gutwein and Small Business Minister Michael Ferguson attended the seminar to discuss business owners and their role in Tasmania's growing economy.
"As a small jurisdiction we're punching well above our weight," Mr Gutwein said.
"The national accounts which were out last week indicated that Tasmania, for the last financial year, led the country ... in terms of the rate of growth, in terms of our economy."
Being a regional business is not an excuse not to grow and continue growing.Dr Jana Matthews
Dr Matthews said while regional businesses can struggle more in various areas than their metropolitan counterparts, the digital age has opened new doors worth exploring by businesses outside major cities.
"One reason regional businesses struggle is they're not as close to markets," Dr Matthews said.
"You don't have as much access to new employees because they either have to move or you're selecting from a smaller number of people in the region around you.
"Having said that, I know people who have consciously moved to regional areas - as long as you have fast internet certain companies can operate beautifully outside metropolitan areas. Being a regional business is not an excuse not to grow and continue growing."
ANZ Tasmania regional executive Chris Sparks said the seminar's have yielded amazing results over the five years they've been held.
"Revenue has grown by those businesses surveyed in the vicinity of 374 per cent ... profit most importantly has risen by 400 per cent and there's been 1500 full-time employees being brought into those businesses ... that participated in our program," he said.