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Business confidence runs high in NSW

Businesses are more confident in investing in NSW than any other mainland state, with the State leading the nation as the best place in Australia to do business.

The findings, released today as part of the NAB Quarterly Business Survey – December 2016, ranked the state as having the strongest current business conditions of any state, and stronger than the national reading.

NSW Treasurer Dominic Perrottet said the results reinforced the State’s status as Australia’s leading economy.

“The report backs up what the NSW Government have been saying all along, that NSW is the best place to start a business,” Mr Perrottet said.

“This government has gone to great lengths to invest in improving infrastructure, removing overburdening red tape and simplifying regulation to help businesses thrive.

“Our work is paying off with NSW continuing to outstrip all other mainland States and territories in terms of business confidence and conditions.

The Survey indicated that the 12 months outlook on business conditions in NSW was the most positive among all mainland States.

“A strong and business sector is great for workers and families, as it means there is more investment and greater employment opportunities,” Mr Perrottet said.

The NAB Quarterly Business Survey – December 2016 surveyed more than 900 non-farm businesses between 21 November and 9 December, covering current business conditions and expectations for forward activity.

The new report comes following last week’s release from ABS, which showed more than 72,000 dwellings were approved in 2016 above the state target of 50,000.

“We are committed to increasing housing supply to make housing more affordable for all. Since the Liberal-National Government was elected in 2011, there have been more than 310,000 new homes approved across NSW,” added Mr Perrottet.

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