Business chamber ‘goes bust’ shock

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THE members of a major business chamber group in Frankston will vote later this month on putting the organisation into voluntary administration.

The Frankston Business Network (FBN), also known as the Greater Frankston Business Chamber, wrote to its members on Thursday (5 July) to advise a special meeting vote will be held on Thursday 26 July.

“While no commitment has been made at this stage, Frankston City Council has indicated they may explore options for supporting a business entity in lieu of FBN in 2019,” FBN president Kath Ferry said in an email to members.

The business chamber representing many businesses throughout the Frankston region was first established in 1955.

Frankston mayor Cr Colin Hampton said council is aware of the FBN’s plight.

“Members of council recently met with representatives of the Frankston Business Network who provided an update about their current financial situation, including the possibility that they may go into voluntary insolvency,” he said in a statement.

“We are disappointed with this outcome and recognise the need for a business network. Council supports small business through a number of channels, including the facilitation of small business workshops and small business grants program.”

The mayor said any decision on financial support for a business chamber will need to be agreed by councillors.

Ms Ferry was contacted for comment but did not respond before publication deadline.

The FBN email sent to members  stated staff would end employment with the chamber on Wednesday 11 July “and all scheduled events and networking activities will be cancelled”.

First published in the Frankston Times – 9 July 2018

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