Con­fi­dence down

The Coffs Coast Advocate - - NEWS - JA­NINE WAT­SON Ja­nine.Wat­son@coff­s­coas­tad­vo­cate.com.au

BUSI­NESS con­fi­dence is be­low av­er­age in the Coffs Har­bour-Grafton re­gion, a re­cent sur­vey shows.

But to our south, con­fi­dence in the Mid North Coast has been deemed above av­er­age.

Com­par­isons are no bet­ter when look­ing at unem­ploy­ment rates, with Coffs Grafton youth unem­ploy­ment at 8.6 per cent and youth unem­ploy­ment 22.9 per cent.

For the Mid North Coast, unem­ploy­ment was listed as 4.6 per cent and youth unem­ploy­ment 11.9 per cent.

The re­sults are out­lined in the NSW Busi­ness Cham­ber’s lat­est Busi­ness Con­di­tions Sur­vey, which gauges cur­rent and ex­pected busi­ness per­for­mance across a range of in­di­ca­tors in­clud­ing prof­its, sales, cap­i­tal spend­ing and em­ploy­ment lev­els.

Busi­nesses were also asked to rate the per­for­mance of the NSW econ­omy.

The sur­vey is con­ducted quar­terly and is typ­i­cally sent to about 20,000 mem­bers across all re­gions of NSW and var­i­ous busi­ness sizes.

Across the state, the drought was noted as a ma­jor fac­tor tak­ing its toll on the state’s busi­nesses, with 84 per cent of those busi­nesses sur­veyed in­di­cated they were im­pacted by the drought, 43 per cent of which said the cur­rent drought was far more se­vere than pre­vi­ous droughts.

Four in five af­fected busi­nesses in­di­cated cash flow had been af­fected due to drought con­di­tions. On av­er­age, af­fected busi­nesses in­di­cated they may have to re­duce staffing lev­els by 1.5 em­ploy­ees.

The im­pact of the drought is also ev­i­dent, with New Eng­land, North West and Cen­tral West NSW ex­pe­ri­enc­ing the sharpest de­te­ri­o­ra­tion in con­fi­dence this quar­ter.

New­cas­tle and the Lower Hunter con­tinue to im­press as the strong­est per­form­ers across the state. Go to our web­site to read about the coun­cil’s new busi­ness in­cen­tive pro­gram.

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