Mr GUNNER - 2008-09-16
The Northern Territory’s economy continues to grow strongly, despite international and national challenges. Did the recently released Sensis Business Index provide any further evidence of business growth and high confidence levels in the Northern Territory?
ANSWER
Madam Speaker, I thank the member for his question. It is true that the Sensis Business Index released on 28 August 2008 shows a very interesting picture about the difference between small business in Australia and small business in the Northern Territory.
Most of Australia’s small businesses continue to be concerned about the current and short-term future of the economy, and impact of what is happening today in America may have on the Australian economy. On the other hand, our small businesses in the Territory continue to defy national trends. That is based on business confidence from a survey that was done including nine metropolitan and 60 non-metropolitan Territory small businesses.
Most of the indicators show that Territory small businesses have been the least affected by the economic downturn occurring in the rest of Australia. Northern Territory businesses have been largely enjoying buoyant trading conditions. In fact, the main concern of most Territory small businesses is not what is going to happen to the economy in the future, but where it is going to find the workers for the next few months.
Profitability since May 2008 has grown strongly, up by 24%. The Territory’s small businesses have the nation’s strongest expectation for sales and profit over the medium term. The demand for goods and services has gone up by 10 percentage points to 27% since May 2008. More than half of Territory businesses have experienced stronger demand while only one in five reported a decrease.
Many businesses are very proactive; they are planning for the future, advertising, and are looking at the goods and services they can offer their customers. Equally pleasing in this context is that Territory businesses have been more involved in exporting than in any other state or territory. This is very good news. It is very good news for the Territory and for small businesses. That is reflected by the level of confidence they have shown in our government, which is up 21 percentage points above the national average. Of course, this does not happen by accident. This is not government spin. This is the result, and it is published by a very credible company, Sensis Business Index, that you can see every time. And that does not happen by accident.
The reason that Territory business enjoys such a great economic environment is because the government is working very closely with businesses; we are providing the lowest-taxing jurisdiction in Australia; we are providing business management training; and we ensure that, with any project that happens in the Territory with Territory money - $5m or above - there is the local industry participation plan to include the local businesses taking part of the pie of what is happening in our economy.
It is great news for Territory small businesses and, in general, it is great news for the Territory.
ANSWER
Madam Speaker, I thank the member for his question. It is true that the Sensis Business Index released on 28 August 2008 shows a very interesting picture about the difference between small business in Australia and small business in the Northern Territory.
Most of Australia’s small businesses continue to be concerned about the current and short-term future of the economy, and impact of what is happening today in America may have on the Australian economy. On the other hand, our small businesses in the Territory continue to defy national trends. That is based on business confidence from a survey that was done including nine metropolitan and 60 non-metropolitan Territory small businesses.
Most of the indicators show that Territory small businesses have been the least affected by the economic downturn occurring in the rest of Australia. Northern Territory businesses have been largely enjoying buoyant trading conditions. In fact, the main concern of most Territory small businesses is not what is going to happen to the economy in the future, but where it is going to find the workers for the next few months.
Profitability since May 2008 has grown strongly, up by 24%. The Territory’s small businesses have the nation’s strongest expectation for sales and profit over the medium term. The demand for goods and services has gone up by 10 percentage points to 27% since May 2008. More than half of Territory businesses have experienced stronger demand while only one in five reported a decrease.
Many businesses are very proactive; they are planning for the future, advertising, and are looking at the goods and services they can offer their customers. Equally pleasing in this context is that Territory businesses have been more involved in exporting than in any other state or territory. This is very good news. It is very good news for the Territory and for small businesses. That is reflected by the level of confidence they have shown in our government, which is up 21 percentage points above the national average. Of course, this does not happen by accident. This is not government spin. This is the result, and it is published by a very credible company, Sensis Business Index, that you can see every time. And that does not happen by accident.
The reason that Territory business enjoys such a great economic environment is because the government is working very closely with businesses; we are providing the lowest-taxing jurisdiction in Australia; we are providing business management training; and we ensure that, with any project that happens in the Territory with Territory money - $5m or above - there is the local industry participation plan to include the local businesses taking part of the pie of what is happening in our economy.
It is great news for Territory small businesses and, in general, it is great news for the Territory.
Last updated: 09 Aug 2016