Bringing business back: University of Melbourne assesses vacancy rates in Shepparton CBD

New initiatives to attract businesses back into the Shepparton CBD area are on the cards, as a group of Masters students from the University of Melbourne assess the city’s vacancy rates.

While Shepparton is largely seen as the retail and business hub of the Goulburn Valley, and like all other regional centres across Australia the CBD has struggled in recent times to stop shop vacancy rates from slowly increasing, and the Greater Shepparton City Council is on a mission to find out why.

Geoff Hay, Team Leader Business & Industry at the council said while everyone had their own ideas as to why retail was struggling, there was no hard data to refer to. "While we know retail throughout regional Australia is struggling, we want to make sure we have the right mix of businesses in place in our city centre to attract shoppers but also help retain jobs as well."

"We’ll be asking the students to talk to our traders, real estate agents and customers to get a better idea as to why people aren’t shopping and why some businesses aren’t prospering. Is it cost issues such as business overheads? Is it a lack of trade? Is it a lack of parking? We have our hunches but we need to know what we’re dealing with, and how we compare to other regional centres."

The students will work with both the council and local businesses on the project, which is part of the University’s Volunteer Business Practicum, a program that allows students to contribute to a business or community while gaining valuable work experience.

Program manager Sue Elston from the Faculty of Business and Economics Career Centre said the program, now in its third year, was a fantastic way for students to meet potential employers and gain confidence by being treated as a professional.

"One of the challenges for students, we find, is dealing with an imperfect world, away from lectures and text books. An opportunity to gain ’hands on’ experience helps them realise that time passes very quickly in the business world, and that it’s not just about how much time they spend on a project, but as consultants, how effectively they work," she said.

Ms Elston said the program was particularly valuable for international students, who make up a large proportion of the Practicum program.

"Because they’re doing a project of real need, we find their confidence grows as they see they can apply their classroom skills in the real world. The difference in students from when you first meet them, compared to when they finish the program, is incredible and a rewarding part of the process."

The students will work with the Greater Shepparton City Council until mid-February, before presenting their findings to their peers and the council.

See http://www.gsbe.unimelb.e... .