Small businesses find opportunity in Bendigo's shifting economy, and some are already cashing in

Bendigo, While headlines warn of falling home prices and a nationwide Telstra outage that left millions without service for hours, a quieter story is unfolding in central Victoria. Small businesses in Bendigo are turning disruption into advantage, and some have already started to profit.

The key factor: consumer trust is shifting. After the July 10 Telstra failure, which CEO Vicki Brady admitted was caused by a known time-keeping software risk, many Bendigo residents are rethinking reliance on big national providers. At the same time, falling home prices in Greater Bendigo, down 3.2 percent year-on-year to a median of $589,000 according to Real Estate Institute of Victoria data from June, are freeing up renter and buyer cash for local services.

On McCrae Street, inside the converted former Bendigo Bank branch at 85-87 McCrae St, a cluster of microbusinesses has sprung up. The Bendigo Makers Market co-working hub now hosts four independent operators including a graphic designer, a bookkeeper, and two specialty retailers who shifted entirely online after the pandemic. Their landlord, local developer Mark Trewin, told The Daily Bendigo he reduced lease terms to three-month rolling agreements in January, and occupancy jumped from 40 to 78 percent in six months. “The big guys are vulnerable right now. People want someone they can call,” he said.

That sentiment echoes at the Bendigo Business Council’s monthly networking breakfast, held at the Golden Dragon Museum on Bridge Street. Attendance hit 112 last month, the highest since 2019. Council executive officer Amanda George said the council has fielded 37 inquiries since April from people wanting to start side hustles or pivot existing businesses. “They’re asking about pop-up permits, insurance, and how to compete with online platforms like Temu,” she said. The council launched a “Local First” voucher program in May, offering $50 discounts on services from participating member businesses. More than 230 vouchers were redeemed in June alone.

Businesses already adapting

Two local firms have moved fast. Bendigo-based Petite Pantry, a meal-prep service operating from a commercial kitchen on Barnard Street, reported a 22 percent revenue increase in the June quarter. Owner Sarah Chen expanded her delivery radius from five kilometres to 15, adding the suburbs of Epsom, Maiden Gully and Strathdale. Her pricing undercuts major meal-kit companies by about 15 percent, with a single-serving dinner starting at $9.50. “When Telstra went down, we couldn’t process credit cards for four hours. But our regulars just paid next time. They trust us,” Chen said.

Meanwhile, Bendigo Digital, a web design and IT support shop on Williamson Street, has added 14 new clients since May, many of them local tradies and cafes that previously used national platforms. Owner Michael Tran said half of his new clients cited the Telstra outage as a reason for switching. “They’d lost booking systems, EFTPOS, everything. Now they want local hosting and a human they can visit,” he said.

The Bendigo Library in Hargreaves Street now runs a fortnightly “Small Business Tech Drop-in” every second Thursday, drawing an average of 18 attendees per session. Library manager Fiona Clark said the most common question is about setting up e-commerce to compete with overseas platforms like Temu, the Chinese marketplace now battling a copyright lawsuit from a Melbourne mosaic artist. “People want to sell their own products online but avoid the fees and complexity of big marketplaces,” Clark said.

What comes next

For small business owners watching from the sidelines, the window is open but narrowing. Bendigo Business Council has scheduled a “Pivot to Local” workshop on August 5 at the Ulumbarra Theatre, focusing on operational resilience, backup systems, local supply chains, and low-cost digital marketing. Tickets cost $25 for members, $40 for non-members.

Practical advice from those already benefiting: start with one low-risk channel. Petite Pantry’s Chen suggests Facebook groups and local food co-ops before building a full website. Bendigo Digital’s Tran recommends a basic failover internet connection, about $60 per month through local ISPs like La Trobe Telecom. And the McCrae Street hub’s Trewin says rent is negotiable. “If you’ve got a solid plan and a willingness to show up, we can make the numbers work,” he said.

The bigger question is whether this local-first momentum will last. Falling interest rates, expected by the Reserve Bank as early as November, could lure customers back to national brands. But for now, Bendigo’s small-business ecosystem is seizing the moment, one $50 voucher and one three-month lease at a time.