Business NSW is calling on Central Coast Council to develop a Roadmap for Recovery to restore low confidence recorded by local business in the wake of the announcement that a public inquiry is to be held into Council’s financial situation.
Business NSW Central Coast Regional Director, Paula Martin, said that in a recent survey conducted in conjunction with local business chambers, 80 per cent of businesses have been impacted by the Council situation creating further uncertainty, and 50 per cent of respondents have stalled their future plans for growth.
“Our survey suggests that there are significant challenges ahead for regional economic growth,” Martin said.
“While 50 per cent of business are confident that longer term, the Central Coast will be an attractive investment region with business growth, only 29 per cent of businesses are confident that Council will support growth and investment.
“Low business confidence may mean that businesses are reluctant to hire staff and invest to grow, particularly as the pandemic continues to impact local business.
“Infrastructure and maintenance, planning and approvals, and a shortage of destination activities are key challenges faced by business.
“Council must delicately balance the need to financially recover without compromising the opportunity for local business to expand or limit the region’s ability to attract new investment.
“Continuing in Administration is welcomed by business, but this needs to be supported by priorities that help business grow in the shorter term.
“The Roadmap must focus on reducing regulatory red tape; business friendly council practices and delivery of capacity building projects to grow local jobs.
“Road and highway upgrades, destination-based activities to drive tourism and events, reduced red tape to create a vibrant Gosford CBD, waterfront and night time economy and town centre upgrades are immediate examples cited by business with potential to improve the local economy.
“A Recovery Roadmap that is focused on economic development for the short term will provide the confidence that businesses need to grow.”
Media release, Apr 27
Business NSW Central Coast