Supporting Women in Small Business

Having secured half a million dollars through the (then) Department of Employment Training and Youth Affairs, the timely and unique nature of the project was further emphasized by the enthusiasm of Victorian Women’s Trust. During the project’s lifespan, Business Matrix hosted over 40 tenants, the majority of which went on to become successful independent companies.

It promoted local seminars and training workshops which assisted the business knowledge and skills for hundreds of women business owners. During its time at 288 Brunswick St, Fitzroy, it was estimated that the incubator contributed in excess of $2.3 m to the local economy within the City of Yarra.

Business Matrix adopted the following principles, turned them into practice and showed that they are an effective formula for supporting women in small business.

• Ready availability of business planning advice and support
• Provision of flexible, responsive and affordable training and professional development
• Fostering and support of trade relations between the businesses
• Provision of financial management advice and support
• Opportunities to discuss successes and setbacks – learning from successes and mistakes
• A co-operative ethos – with formal and informal meetings to discuss ideas, sharing of knowledge, and networks
• A pleasant environment, with a women-friendly aesthetic
• Support for all stages of the business/ life cycle – start-up, growth, expansion, winding-back, child-rearing
• Adherence to ethical business principles

Your business, your community – participants believe in giving something back to the community.