MORE than 93 per cent of businesses across the Central West have been impacted by the crippling statewide drought, with 56 per cent saying they may need to reduced staff numbers, new data shows.
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The survey conducted by the NSW Business Chamber heard from more than 1000 respondents.
Data showed that 67 per cent of business owners said their local economy had been weakened due to the drought.
The impact on our regional businesses including retailers, manufacturers, agri-business and tourism operators has been significant.
- Western NSW Business Chamber regional manager Vicki Seccombe
Orange-based Western NSW Business Chamber regional manager Vicki Seccombe said 87.9 per cent of survey respondents had confirmed a decrease in revenue.
“The impact on our regional businesses including retailers, manufacturers, agri-business and tourism operators has been significant,” she said.
“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.”
The survey also revealed that 81.8 per cent of Central West businesses said their cash flow had been impacted.
Ms Seccombe said there were “no silver bullets apart from rain” and that the Western NSW Business Chamber would like a suite of practical and targeted measures to be implemented to support businesses.
Among them would, she said a drought-focused business concierge service to help connect non-farm businesses with existing government programs would be of assistance.
Ms Seccombe said this concierge should also provide access to financial counselling and specialised business advisory services across regional NSW.
A clear policy statement from the Australian Taxation Office and Revenue NSW on the availability of tailored payment plans to assist businesses in meeting their tax obligations should also be introduced.
Ms Seccombe said Australian and NSW government funding should allow local governments to provide council rate relief for drought-affected businesses.
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