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Raine & Horne celebrates Small Business Month

October 23, 2023

Since launching in Sydney over 140 years ago, Raine & Horne has been dedicated to empowering Australians in their journey to establish and expand small businesses. As the October NSW Small Business Month draws to an end, Raine & Horne reflect on their own journey and that of the many small businesses that form part of the national network.

Raine & Horne itself began as a small business assisting Australians in achieving the great Australian dream of property ownership, later adopting the franchise model to provide opportunities for all Australians to become small business owners themselves through the Raine & Horne network. It’s this unwavering dedication to small and family businesses that has seen Raine & Horne be inducted into the Family Business Australia Hall of Fame in 2012.

140 years is a long time in business – especially an 100% Australian and fourth generation family-owned business like Raine & Horne. During that time, Raine & Horne has seen the nation’s small business community flourish, particularly in the real estate industry.

Over one in 10 small businesses operate in the real estate sector

There are around 2.6 million businesses operating in Australia. The vast majority of these – 97% – have fewer than 20 employees, which the Australian Bureau of Statistics (ABS) uses as its definition for a small business.

Nationally, small businesses account for around one-third of Australia’s gross value added. And, highlighting how property as an industry benefit from the personal touch of a small business, Reserve Bank figures show the real estate sector accounts for 11.4% of Australia’s total small businesses*.

Beyond a directly measurable contribution to the economy, small businesses play an important role in local communities[1]. Since its inception in 1883, Raine & Horne have been supporting small businesses across Australia through a range of national initiatives delivered at a local level.

Taking a closer look at what’s involved reveals numerous local and economic benefits:

  • Building better communities

Volunteer work and charitable donations are common among small businesses. Raine & Horne is proud to be part of this community effort. In just the past two years, the Raine & Horne Foundation has successfully garnered over $500,000 from its more than 300 offices in support of local community causes.

According to Angus Raine, the Executive Chairman of Raine & Horne, local real estate offices provide unparalleled support for a wide range of community causes, including but not limited to soccer, rugby union, nippers, touch football, lawn bowls, netball, and many others.

“At a community level, our offices sponsor anything from Surf Life Saving, to soccer and football clubs, lawn bowls, netball associations, the list goes on,” says Mr Raine.

Over the years, the Raine & Horne Foundation has also provided support to those experiencing homelessness in the form of self-contained temporary accommodation. With 11 furnished, self-contained units, Raine & Horne Foundation House offers over 4000 nights of accommodation per year to locals in need.

This is in addition to grants and initiatives alongside the Great Barrier Reef Foundation in a collaborative effort to restore the Great Barrier Reef – a region which contributes significantly to local economies through tourism.

  • Valuable employment and training opportunities

Small businesses give jobseekers a chance to find a rewarding role in their local area and build their skills through training.

In 2022, over 120 training events were held across the Raine & Horne network, collectively providing 7,800 hours of staff training.

  • Successful small businesses drive local housing markets

A US study found neighbourhoods with thriving small businesses saw home values outperform citywide markets by 50%. That’s not surprising. After all, one small business can generate support for many others.

A local real estate agent for example, also supports mortgage brokers, builders, architects, homewares outlets and more.

  • Money spent at small businesses stays local

It’s estimated that for every $100 spent in a small business, $68 of that money stays within the community, contributing to the growth of the local economy.

Small businesses, we salute you!

The reality is that small business makes a tremendous contribution to our way of life.

Think about what makes it so pleasant to stroll down the main street of your neighbourhood, and chances are it is the cafes, restaurants, small specialty stores, and local services such as the barber or nail salon.  

As we celebrate Small Business Month 2023, Raine & Horne salutes small businesses, and urges all Australians to support small businesses in their local area.

[1] Small businesses play an important part in the Australian economy, both through their economic contributions and their role in local communities.