BlazeBizArena | Helping Your Business Navigate the Brisbane Olympics 2032

What are the Brisbane Olympics 2032?

The Olympic Games are the world's only truly global, multi-sport, celebratory athletics competition. With more than 200 countries participating in over 400 events across the Summer and Winter Games, the Olympics are where the world comes to compete, feel inspired, and be together. (Source)

Two weeks of daily sporting activities. Billions of dollars invested in Queensland, the Sunshine Coast and Brisbane over the next 10 years to build an infrastructure system - including roads, venues, accommodation complexes and supporting infrastructure - that will support the Brisbane Olympics 2032. The Summer Olympics will be a once-in-a-lifetime event for Australian businesses.

And unless our businesses are ready, the Brisbane Olympics 2032 may just prove to be the opportunity that passed them by. Read on to find out how you can get ready.

When will the Brisbane Olympics be held?

23 July 2032 to 8 August 2032 - per the official website of the Brisbane 2032 Olympic and Paralympic Games Queensland. 

Where does Blaze Business & Legal fit in?

We help our clients get bid-ready. 

We teach our clients how to set themselves up to ensure they are ready to bid for Council and Queensland State Government works and services. For example, some of our smaller clients don't routinely get audited Financials - these will be required (and from at least 2 years into the past) before you can be engaged to do any Olympic Games work or provide any services.

We provide Strategic Business Advice to increase the changes to win tenders and bids

We are experts are drafting bids and writing bids, and we share this knowledge and our tips with our clients. And more than that, we advise on which bids our clients should go for, and which they are best not attempting.

We help our clients scale their businesses

By starting to scale their businesses now, our clients will be in a position to take on Council or State Government work, or subcontract to Tier 1 or Tier 2 contractors, over the next 8 years. There is no point bidding for work and services, after all, if your business is not geared up to carry it out.

We teach our smaller clients how to contract on a bigger scale

Some of our SMEs are more used to ad-hoc contracting and don't have the internal processes and procedures to allow them to work for a sophisticated client who will strictly hold them to the contract. We teach our clients how to understand contracts, how to review them, how to manage the contracts they execute, how to make sure they comply with their obligations.

We prepare Workflows for our clients and we help them resolve any disputes with their clients before they become serious. We help our client submit payment claims in the forms required, comply with Security of Payment Act requirements, make sure they have all the necessary plans, processes and procedures in place, and make sure their procurement function works smoothly.

And we help our clients build a sophisticated Contracting Strategy that they can use as they grow and develop and take on more and more work over the next 8 years.  

How are the Brisbane Olympic Games likely to impact your Business?

The Brisbane Olympic Games 2032 are set to be a monumental event, offering a wealth of opportunities for various businesses. Whether you're a local retailer, a service provider to Councils, or a subcontractor to larger construction firms, the Games could significantly impact your business. Here's a breakdown based on your location and business type.

If you live in Brisbane

For Brisbane-based businesses, especially those in construction and public services, the Olympic Games offer a huge number of contracting opportunities. Infrastructure upgrades and new project launches will be in full swing. Retailers and restaurants can also expect increased footfall due to the influx of tourists.

Tip: If you're a subcontractor to larger firms, now's the time to ensure your business is structured to scale and meet the demands of larger contracts.

If you live on the Sunshine Coast

The Sunshine Coast will likely serve as a popular getaway for visitors and could host training camps and auxiliary events. This could lead to short-term contracts for facility upgrades, transportation, and public services.

Tip: Businesses subcontracting to larger contractors should be prepared to meet stringent quality and delivery timelines.

If you live in Northern New South Wales

Northern New South Wales businesses can capitalise on improved transport links and the overflow of tourists. Opportunities for subcontracting work in areas like road maintenance and public safety measures may arise.

Tip: Make sure your business is structured to handle the complexities of government contracts and compliance requirements. Blaze Business & Legal regularly advises our clients on these issues.

If you live in Queensland

The entire State stands to benefit from increased tourism and global attention. Statewide contracts for services like waste management and public transportation will be up for grabs.

Tip: Subcontractors should focus on building relationships with larger contractors who are likely to win these big-ticket projects.

If you live in other parts of Australia

The ripple effects of the Games will likely extend nationwide. Federal projects may require services from businesses across Australia.

Tip: Subcontractors to larger firms should ensure they have the capacity and business structure to meet the demands of these expansive projects.

The Importance of Business Structure

Whether you're a primary contractor or a subcontractor, it's crucial to have your business properly structured to take advantage of these opportunities. Proper structuring can help you:

• Efficiently manage tax obligations
• Scale operations to meet increased demand
• Comply with legal requirements for government contracts
• Cope with the higher demand on your staff
• Ensure your Contracting Strategy is in place
• Train and upskill your staff
• Put a solid Procurement Process in place
• Make sure that your cash flow is solid
• Manage contracts so that you actually receive the profit margin you agreed on (and it's not wasted on claims, disputes etc)

Is your Business ready for the Brisbane Olympics 2032?

Check out our post and find out some of the things your business will need to consider in order to get ready for the Brisbane Olympics 2032.