While cost-of-living pressures challenge the way South Australians spend, Renew Adelaide continues to back small businesses to dream big and test their concepts safely in a tough market.
Written by Renew Adelaide
Thanks to our strategic partner Adelaide Economic Development Agency, we introduced 18 new business concepts to the Adelaide CBD in FY25. These ventures spanned fashion design, independent publishing, hospitality, art galleries and more. Together, they’ve brought economic and social vibrancy our city, making it a place that we – and hopefully you – don’t want to leave when the workday is done.
This year has also seen our Expression of Interest database skyrocket to over 1,300 – a 34% growth from FY24. This illustrates a tension between small businesses’ demand for space and the inaccessibility of the market. It’s one that’s reflected in the high vacancy rates we see across some CBD and North Adelaide main streets. We’re beyond grateful to our property partners who share our vision of a vibrant Adelaide, generously donating $427.3k of commercial rent to our program to combat this issue.
This is in addition to the shared vision of our corporate and community partners, who have provided an industry contribution of $118.2k this year.
It’s also been a record-breaking 12 months for business sustainability. 61% of our ventures graduated from our program onto commercial rent-paying terms. We look forward to cheering these businesses on as they continue to bring the city to life for years to come, fuelling the economic and social vibrancy of our State.
Of the 18 businesses we supported this year, we’re proud to have launched 3 new Aboriginal-owned concepts in collaboration with The Circle First Nations Entrepreneur Hub. That’s 18% Aboriginal-owned, Renew Adelaide-supported ventures in FY25, against the national figure of 1%. We are strongly committed to the growth of this demographic, elevating the incredible voices and concepts within the First Nations community.
FY25 also saw Renew Adelaide’s major event debut: Westbound. With attendance reaching 2,000, this ambitious micro-festival was a love letter to the communities that bring Renew Adelaide’s mission to life – small businesses and creatives.
We’d like to thank the Adelaide Economic Development Agency for their ongoing investment in our work, and in the work of local entrepreneurs. Their support is vital to putting South Australia on the map as a place that’s recognised nationally and globally for its economic and cultural vibrancy.