Eco­nomic op­ti­mism up

Broome Advertiser - - News - Jakeb Wad­dell

Con­fi­dence is on the rise for busi­nesses around a town “mov­ing in the right di­rec­tion”, a re­cent Broome Cham­ber of Com­merce and In­dus­try sur­vey has re­vealed.

In an in­ves­ti­ga­tion con­ducted last month, the BCCI found 77 per cent of re­spon­dents felt optimistic or neu­tral about the 2017/18 fi­nan­cial year, with 76 per cent rein­vest­ing in their op­er­a­tions.

The sta­tis­tics showed a rise in con­fi­dence when com­pared with the 2016 sur­vey, with one in five busi­nesses shift­ing their sen­ti­ment to the pos­i­tive.

BCCI chief ex­ec­u­tive Jael Nap­per said this showed a con­sis­tent trend be­tween con­fi­dence and cap­i­tal in­vest­ment in lo­cal busi­nesses.

The con­struc­tion sec­tor recorded the high­est leap of busi­ness con­fi­dence among those that com­pleted the sur­vey, with a mas­sive 67 per cent surge in op­ti­mism for the year ahead. The in­dus­try also recorded a higher rate of busi­ness per­for­mance, a 33 per cent rise com­pared with last year.

Broome’s ac­com­mo­da­tion sec­tor re­ported the low­est lev­els of con­fi­dence at zero per cent.

Five in six turned a lower busi­ness per­for­mance in the 2016/17 fi­nan­cial year.

The sur­vey also ex­plored is­sues of red tape, with only a third of lo­cal busi­nesses re­port­ing “un­nec­es­sary reg­u­la­tory bur­den” and less than a third los­ing a lo­cal ten­der to a busi­ness not op­er­at­ing in town.

Ms Nap­per said she be­lieved Broome was mov­ing in the right di­rec­tion. “It’s won­der­ful to see such a great rise in the con­fi­dence of lo­cal busi­nesses,” she said.

“Strong busi­ness con­fi­dence typ­i­cally trans­lates into busi­ness in­vest­ment and growth.

“In a low cy­cle, we ex­pect to see a with­draw­ing of op­er­a­tions, which can have a far-reach­ing ef­fect on the over­all econ­omy.” Sixty-two busi­nesses across a range of sec­tors took part in the an­nual sur­vey.

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