Thursday 2 August 2012

Small Business Incubator

The QVM is referred to as a business incubator in many internal and external communication sources but does it really meet the criteria?
A small business incubator provides an environment in which small new businesses can experiment and receive guidance as they develop to a stage of self support or continuing growth.

 The QVM Stall Application form does refer to aesthetics and stall merchandising as key selection criteria but in fact new traders are selected on fairly flimsy guidelines and then pretty much left to their own devices. It would seem that there has been a culture of giving anybody a go and that has the effect of lowering standards.

 It is apparent that new traders are not asked to commit to a minimum stock spend, are not asked to submit a business plan, are not asked to submit a merchandising plan and are not given follow-up counselling on their performance. The point is that the difference between an ad hoc unprofessional market offer, and a professional market offer, does not require a large amount of money. It requires commitment,  professional business thinking, advice and follow-up.

 This is an important part of raising the standard at QVM.


Herald – Sun – 31/3/2012
"The priority is to ensure the market continues to remain a vibrant, character-filled, traditional working market; and continues to thrive as a major retail centre, business incubator and tourist attraction for generations to come," Mr Guerra said.