Queensland’s lacklustre economy is reflected in our small and medium businesses remaining less optimistic than those nationwide, particularly in NSW, Victoria, Tasmania and the ACT, according to the latest Sensis survey of small and medium businesses, those businesses with fewer than 200 employees (see chart above, which charts the difference between the percentages of optimistic and pessimistic businesses, the net balance). There was a fall recorded in business confidence in Queensland in March quarter, but I am hesitant to make too much of it given there appears to be substantial volatility in the series due to the relatively small sample size (171 Queensland businesses). At least over the last twelve months there has been a substantial improvement in confidence, after the initial shock of the mining downturn. But, as I’ve commented extensively in the past, the economy remains sluggish, and regional areas are struggling, and that is why our performance is below that of other States.
The Sensis data also reveal that the Queensland Government “is now viewed as the least supportive government of all the states and territories” as reported by the Courier-Mail. I have been saying for some time now that State Government policies and regulations need to be improved in the interests of boosting productivity and economic growth. My most recent comments were in my second interview with Steve Austin on 612 ABC Brisbane last week (see Queenslanders struggling to find jobs), in which I again called for legalisation of Uber, deregulation of retail trading hours, and streamlining project approvals.
Good points Gene, all should be adopted, particularly trading hours and approvals. I have watched with interest a housing developement just south of the Townsville CBD where the old DPI facilities were,all up about 1000 dwellings. This is a project run by Economical Developement Qld which is a state govt unit within the Dept of Infrastucture, Local Govt and Planning. The approvals in these estates don’t have to go through the local council, the approval process is all handed in house and other than water connection and sewerage has very little to do with the Townsville City Council. The speed in which this development is proceeding is a clear indication on what can happen when various levels are taken out of the approvals process, it has been very quick. Whilst still a Govt entity EDQ has essentially become a self certified developement and is clearly the way forward for streamlining developement approvals.
That’s a great example. Thanks Glen!
EDQ are good operators too