According to more than 1000 respondents of the NSW Business Chamber Drought Survey, the impact of the drought runs deep, impacting most regional businesses that support and make up the fabric of our regional communities including retail, manufacturing, construction and tourism.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Our survey heard from more than 1000 businesses across NSW, with respondents highlighting the need for immediate practical assistance to support regional communities through this tough period.
Regional businesses from all parts of the community indicated reduced revenue.
Eighty-four per cent of respondents in regional NSW have been negatively affected. Almost 70 per cent indicated their local economy had been weakened.
We already knew many of our members were struggling with increased cost pressures. With the drought resulting in falling sales, stifled business growth and employment, 80 per cent indicated their cash flow had been impacted.
While there are no silver bullets apart from rain, the NSW Business Chamber would like to see a suite of practical and targeted measures implemented to support businesses, including:
- A drought-focussed business concierge service to help connect non-farm businesses with existing government programs. The service would also provide access to financial counselling and specialised business advisory services across regional NSW.
- Clear policy statements from the ATO and Revenue NSW on the availability of tailored payment plans to help businesses meet tax obligations.
- Australian and NSW government funding to allow local governments to provide rate relief for drought-affected businesses.
- Financial relief modelled on the Farm Household Allowance, made available to family enterprises facing equivalent financial hardship.
- Prioritising drought resilience infrastructure investment.
Australians are known for their generosity and the importance of a fair go. Our regional communities provide us with all the living essentials. It’s only right that in times like this we come together and support all our farming and non-farming businesses alike to assist them through this difficult period.
Joe Townsend is the regional manager, New England North West of NSW Business Chamber.
