Eighty four per cent of businesses in regional 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 State’s peak business organisation, the NSW Business Chamber.
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 primary producers needs to be front of mind. However, the drought is also affecting regional businesses at all parts of the supply chain including retailers, manufacturers, construction, and tourism operators with revenue down across the board,” Mid North Coast NSW Business Chamber regional manager, Kellon Beard said.
“Cash flow is a huge concern with 80 per cent of surveyed businesses indicating their cash flow had been adversely impacted.
“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. The service would also provide access to financial counselling and specialised business advisory services in town halls and community centres across regional NSW.
- 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, made available to family enterprises facing equivalent financial hardship.
- Prioritising drought resilience infrastructure investment in drought-affected communities.
“Australians are known for their generosity and the importance of a fair go. These communities provide us with the essentials so it is only right that we all chip in to assist them through this difficult period,” Mr Beard said.