Chairman of IBISWorld, Phil Ruthven with Sandra George and Greater Dandenong mayor Youhorn Chea.
By NICOLE WILLIAMS
THE annual celebration of business in the south east was shrouded in an important message last week.
Attendees at the South East Business Network (SEBN) Annual Dinner heard from Chairman of IBISWorld, Phil Ruthven.
Mr Ruthven gave local business a few tips to survive in the long term including investing in intellectual property and equipment as well as finding an industry niche.
“Being good at very few things is very important,” he said.
“It is important to know you control your own destiny, either as a big player or tiny, ultra-niche player.”
For manufacturers, Mr Ruthven said they could not ignore reality and rely on government bailouts.
“We have to adapt. If you try to ignore reality and rely on taxpayers to solve yours problems – that’s not fair,” he said.
“You make manufacturing a success because you are unique.”
He also had some strong views on the fall out from the global financial crisis.
The recession was the fault of men, he said, because male-dominated boards started cancelling projects.
“Consumers are never the cause of a recession. It can be blamed on nervous board of directors,” he said.
“There are no good or bad industries, only industries inhabited by idiots who refuse to change.”
SEBN Manager, Sandra George, said the evening was an opportunity to celebrate success.
Ms George said the success of the local business sector and SEBN was not just about the industry, network or support but a combination.
“Many see this area with envy,” she said.
“We thrive because it is a supportive environment and SEBN has a role to play.”
