As the border re-opened, businesses thrived but reported 'low confidence' in the future
Gold Coast businesses have recently expressed their concern and “low confidence” in the future of the state and national economies despite “making the most” out of the state’s border re-opening.
Data from the Chamber of Commerce and Industry Queensland (CCIQ) said that Gold Coast employers recorded an increase in sales and revenue and general businesses conditions in the December quarter, showing that profitability, sales and revenue were “all above the state average.” But data also suggested that they paid among the highest labour costs while operational costs, employment costs and capital expenditure were “on par with the rest of the state.”
“On the Gold Coast, we’re among the least confident in the state in the outlook of the national economy especially, which could be contributed to ongoing business uncertainty,” Southport Chamber of Commerce president Ariana Margetts said.
“There was some confidence when Queensland borders re-opened businesses on the Gold Coast would see some uplift as a result but we struggled to realise the full potential.”
“COVID in the workplace and ongoing disruptions to supply chains and the labour market mean many Gold Coast businesses aren’t banking on the future confidence to recover their losses over the past two years,” Margetts added.
Meanwhile, CCIQ policy and advocacy general manager Amanda Rohan said that employers have been “calling on the state government consistently” to provide clear re-opening and economic recovery planning, saying that “uncertainty would ultimately end up costing Queensland businesses.”
“We called for access to rapid antigen testing to be freely and widely available for business, a joint state and federal directly-targeted support package for businesses most impacted and clarity on what the state’s 90% vaccination milestone meant for business rules and mandates,” Rohan said.
“Businesses told us without those commitments, they would struggle to re-open, stay open and be viable long-term. Now we’re seeing the impact with the majority of Queensland businesses increasingly concerned about their business viability in the future,” Rohan added.
