The race to Brisbane 2032 has already begun, with 7 in 10 Australian businesses seeing an opportunity in the Olympic and Paralympic Games. But only 16 per cent say they would be ready to act if a relevant prospect opened in the next 12 months, according to new CommBank research.

With less than six years until Brisbane 2032, the findings highlight an opportunity for Australian businesses to start preparing now for an event that will put Australia on the global stage and create opportunities across industries, supply chains and communities.

Businesses need support to get ready

Brisbane 2032 is already on the radar for many businesses, but the majority are not yet ready to act. 38 per cent say they need more preparation, while 27 per cent need help working out whether an opportunity is right for them.

Businesses are also clear about what would help, with the top three asks being information or navigation support (65 per cent), tender or capability support (46 per cent) and partnership or connection support (37 per cent).

Businesses turning over $2 million or more are more likely than those turning over less than $2 million to want tender and capability support.

Clear path to 2032

As Founding Partner and Official Bank of Brisbane 2032, CommBank is launching Opportunity 2032 to help Australian businesses understand, prepare for and participate in Games-related opportunities. The program starts with an online hub bringing together practical information, guidance on how to prepare and links to official supplier information including the Games Supplier Portal.

CommBank Group Executive Business Banking, Mike Vacy-Lyle, says Brisbane 2032 could be a significant growth opportunity for Australian businesses, but preparation needs to start early.

“Building capability and getting a business ready to deliver takes time,” he said.

“The impact of Brisbane 2032 will reach well beyond major projects, creating opportunities for businesses across industries, regions and supply chains. We’re launching Opportunity 2032 to give Australian businesses a practical starting point to understand where they might fit and what they may need to do to prepare. The earlier businesses understand the landscape and their own readiness, the better placed they’ll be when relevant opportunities arise.”

Businesses can access Opportunity 2032 at commbank.com.au/opportunity2032.