Somerset is located on the estuary of the Cam River mid-way between the town-ship The Cam River is the borderline of where Wynyard meets Burnie. A beach stretches along the full length of the Somerset coastline from the Cam River to the far western outskirts.
There are a number of small businesses in Somerset with almost all along the main street.
Notable industries in Somerset include: Gunnís Veneers, which is one of only three production facilities in Australasia. Gunnís Veneers, the Burnie branch of William Adams. William Adams is a CAT Rental Dealer. These types of businesses are in keeping with the commercial positives of this region.