The importance of 'Business confidence' can't be understated - It drives business growth and investment, supports employment opportunities and attracts people to our region, so what's the story in 2020?

This Port Macquarie-Hastings Annual Business Confidence survey provides businesses operating within the Local Government Area with an opportunity to connect with Council, have a say and be part of the collective local business voice.

It is anonymous, does not ask for specific financial information and is conducted for research purposes only in compliance with the Privacy Act 1988.

Measuring business confidence helps us gauge the overall condition of the local economy and plan for a vibrant economy.

Our annual business confidence surveys continue to show that local businesses consider the Port Macquarie-Hastings region to be a great place to do business. 

Fewer businesses feeling confident and more feeling pessimistic has led to a sharp decline in Business Confidence in 2020.

This year, 33% of respondents felt good or very good about business confidence (down from 40% in 2019), with 36% at the other end of the scale (up from 25% in 2019).

Business confidence increased with business size and was highest among those businesses operating in health care & social assistance, and rental, hiring & real estate services.

Conversely, those in education & training, transport, postal & warehousing, and arts & recreation were more likely to report poor levels of business confidence.

Key Indicators:

Fewer businesses feeling confident and more feeling pessimistic has led to a sharp decline in Business Confidence in 2020.

This year, 33% of respondents felt good or very good about business confidence (down from 40% in 2019), with 36% at the other end of the scale (up from 25% in 2019).

Business confidence increased with business size and was highest among those businesses operating in health care &social assistance, and rental, hiring & real estate services.

Conversely, those in education & training, transport, postal & warehousing, and arts & recreation were more likely to report poor levels of business confidence.

More Confident

• Health Care & Social Assistance

• Rental, Hiring & Real Estate Services

Less Confident

• Education & Training

• Transport, Postal & Warehousing

• Arts & Recreation

When asked to compare performance across four key indicators (sales, profitability, capital expenditure and staffing) against the previous year, businesses reported a downturn in all measures, with less businesses reporting a fair or substantial amount of capital expenditure compared to the previous year, and more businesses reporting a minimal amount.

When projecting forward across the same indicators, businesses were optimistic that the 20/21FY would outperform the last year, with improvements expected across all measures except for Capital Expenditure.

Sales and Profitability

Compared with 2019, actual sales and profitability reported in 2020 declined significantly, with an unprecedented 49% experiencing reduced sales, and 46% experiencing reduced profits, leaving just over half of local businesses experiencing unchanged or improved outcomes for 2020. Projections across the two measures indicate 28% of businesses are expecting sales to improve, and 27% of businesses are expecting improved profitability in 2021. 

Jobs Growth Mid North Coast:

• 13% employment growth over 5 years [Source: australianjobs]

• 5.7% projected employment growth (2019 - 2024) [Source: LMIP] Gross Regional Product

• $5.099 billion [source: REMPLAN] Population

• 84,525 in 2019 [source: profile.id] projected to reach 103k

Tourism:

• 1.5 million visitors annually (5 year average)

• $487 million output

• Employs 2,488 people [source: REMPLAN Economy]

Council Investment in Capital Works:

• $84.9 million invested in capital works projects for 2020-2021 financial year

• Delivering projects for the future growth of our region

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