Ninety six per cent of businesses in Western NSW have been negatively affected by the state’s crippling drought, while almost 70 per cent of affected businesses indicated their local economy had been weakened, according to a new survey from the NSW Business Chamber.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The survey, which heard from more than 1000 respondents across the state, highlights the need for immediate practical assistance to support NSW communities through this tough period.
“The impact on our regional businesses including retailers, manufacturers, agri-business and tourism operators has been significant in Western NSW,” said Western NSW Business Chamber Regional Manager, Vicki Seccombe.
“Cash flow is a huge concern with 86 per cent of Western NSW businesses indicating their cash flow had been adversely impacted. Our regional businesses are the backbone of our communities, supplying our essentials, providing many of us with employment, and more often than not financially supporting our sporting and community groups.”
While there are no silver bullets apart from rain, the 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.
* Clear policy statements from the ATO and Revenue NSW on the availability of tailored payment plans to assist businesses in meeting their tax obligations.
* Australian and NSW Government funding to allow local governments to provide council rate relief for drought affected businesses.
* Financial relief modelled on the Farm Household Allowance.
* Prioritising drought resilience infrastructure investment in drought-affected communities.
READ ALSO:
