An Illawarra Business Chamber business conditions survey showing the first bounce in business confidence for the year coincides with some important online information sessions for local enterprises this week.
The survey, undertaken by Business NSW, showed a strong rebound in business perceptions about the performance of the the NSW economy after record low confidence in June.
Chamber executive director Adam Zarth said the outlook has also improved, with businesses expecting further lifts in the economy for the final three months of 2020.
"The strong bounce in business confidence is a welcome respite from the pandemic-induced gloom and seems to give the tick of approval to government support measures that are backing a business-led recovery," he said.
Business conditions survey findings:
- One in four businesses reported seeing conditions improve over the last quarter.
- The number of local businesses with a positive view of the performance of the NSW economy rose from 6.0 per cent in June to 29 per cent in September.
- Sales revenue improved by 39.3 index points and capital spending was up 26.9 index points.
- More businesses in the Illawarra reporting that they are looking to expand their capacity to meet returning demand.
Mr Zarth is still calling on the NSW government to continue the jobs push by announcing a payroll tax rebate in next month's budget for businesses that have managed to hire staff during the pandemic. "We will enter a difficult period in the New Year, as support measures are tapered back, which is why it is promising to see a strong foundation for recovery emerging across the Illawarra."
Business opportunities with council
Wollongong City Council is holding an information session on Wednesday for business interested in supplying it with goods or services.
The council's Infrastructure Delivery Program is estimated to be worth $800 million over four years and its procurement policy was recently updated to give more weight to local businesses in tenders and formal quotations. The free live streamed session at 3.30pm will cover key things to know about the council's procurement processes and how to find out about opportunities.
Future of work discussed
RDA Illawarra is receiving strong interest in an interactive online future of work roundtable on Thursday looking at how the pandemic has changed the way we interact, communicate, socialise and work.
Speakers include RMB Lawyers managing partner Craig Osborne, Wollongong City Council general manager Greg Doyle and Mercer Wollongong People and Culture leader Renee Whiteside.
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