iOM donates prime Melbourne supersites to FBA to gain gov support for 70% of Aussie businesses

Melbourne large format outdoor advertising operator, has put its weight behind Family Business Australia (FBA) with a campaign aimed to increase awareness around the significant role family businesses play in the Australian economy.

iOM has sponsored two major Melbourne billboards on Kings Way and Hoddle Street in support of FBA campaign aimed to generate awareness and boost association membership; perfectly timed ahead of the upcoming Victorian FBA conference on Friday 10 May.

Says Leah Whitford, iOM managing director: “We share common values with many of the other family businesses who are members of FBA, and therefore we felt compelled to offer our support to help communicate FBA messages through the power of outdoor advertising. With 81% of family business owners set to retire in the next 10 years, there are major issues surrounding succession planning which needs to be addressed by the government – this not only impacts iOM, but also many of our family business clients and Australia as a whole.”

FBA is pushing for the government to provide more support to family businesses as a sector and aims to generate dialogue around significant issues such as succession planning for baby boomers planning to retire. FBA aims to provide resources and support to the next generation of family owners whom often face difficult market conditions. With $4.3 trillion in estimated wealth, and employing 50% of the Australian workforce, the family business sector is a major contributor to Australia’s economy.

The CEO of FBA, Philippa Taylor, confirms the group’s voice is becoming louder with other initiatives planned, such as the celebration of National Family Business Day on September 19.

Says Taylor: “The recent Senate report into family business acknowledges the lack of awareness of family business specific issues, such as the need for changes around the lifespan of trusts and the application of onerous reporting standards for family owned companies. We trust that the recommendations made in the report will be followed through.”

iOM is passionate about the growth of family businesses in Australia and believes it is integral to ensure diversity and strength of the Australian economy. Also iOM’s family business culture is a unique point of difference in the corporatized outdoor media industry and iOM has many family owned and operated businesses as clients.

Says Whitford: “We believe everyone has the right to be heard, no matter how large or small your business. Many of our client relationships are long term and it’s a true sentiment to our shared business values, such as honesty and trust. From Kennards Hire and Bertocchi Smallgoods to smaller businesses like Cannings Free Range Butchers, all have a hands-on approach to their advertising campaigns.”