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Project background

Did you know that 19,287 businesses call Yarra home?

From bustling retail and service precincts to passionate sole-traders to enterprise juggernauts, we want to help empower local businesses to grow Yarra’s economy, boost employment and investment, and capitalise on our city’s unique advantages.

Our current Economic Development Strategy 2020-25 is set to expire this year, and we are inviting business owners and the broader Yarra community to help shape how we support traders now and into the future. This will inform the development of a new Economic Development Strategy that will guide our work in the business space for the next 5 years!

What have we heard?

Over the last 5 years we have been working closely with trader groups, individual businesses, large organisations and our Business Advisory Group to understand their unique challenges operating in Yarra. These include:

  • increased operating costs with rent, insurance and energy rates being affected by the cost-of-living crisis
  • changing consumer habits post pandemic and the increase in online shopping
  • changing employee trends post pandemic including the normalisation of hybrid and remote work
  • difficulty navigating the permit and approval processes
  • vacancy rates in retail and service precincts
  • encouraging skilled workers amongst a labour shortage
  • the need to innovate and grow with the integration of new technology and AI

These were also common themes within the feedback which helped to develop Yarra’s most recent Council Plan. These have been highlighted under the "Working and Playing in the City" Strategic Objective which includes:

  • Make it easier for local businesses to thrive

    Actions include:

    • Expand the Business Concierge service to better assist businesses navigating the processes of running a business in Yarra.
    • Improve permit processes and timelines.
    • Support strategic economic growth opportunities across the City.
  • Support the arts and creative industries

    Actions include:

    • Deliver new artwork in public spaces.
    • Support the initiation of new creative projects that enhance our community fabric.
    • Identify opportunities with private developments, businesses and other stakeholders to support the arts and creative industries.

How does Council currently support businesses?

Council currently takes the following steps to help our local economy thrive:

Complete our survey

Now is the chance for businesses to tell us their priorities and actions to help Yarra’s economy thrive and inform the drafting of our new Strategy

Have your say

Project timeline and Frequently Asked Questions

Timeline

  • Timeline item 1 - active

    Broad community engagement

    Monday 16 June to Monday 17 July 2025

    Now is the chance for our business community to tell us their priorities and actions to help Yarra’s economy thrive.

  • Timeline item 2 - incomplete

    Review feedback

    August to October 2025

    Feedback gathered as part of the broad community engagement will be considered alongside a series of in-depth interviews with select industries, trader groups and business types to help inform the development of our new draft Economic Development Strategy.

  • Timeline item 3 - incomplete

    ​Draft Economic Development Strategy to be presented to Council Meeting

    Late 2025

    A draft Economic Development Strategy to be considered by Council for next stage of engagement.

  • Timeline item 4 - incomplete

    Draft Economic Development Strategy available for community feedback

    Late 2025

    If it's endorsed, the draft Economic Development Strategy will be made available for community feedback before being finalised.

  • Timeline item 5 - incomplete

    Finalise draft Economic Development Strategy

    Late 2025 - early 2026

    The draft Strategy is revised based on community feedback and be considered by Council for adoption.

Complete our survey

Now is the chance for businesses to tell us their priorities and actions to help Yarra’s economy thrive and inform the drafting of our new Strategy