Welcome to the November issue of xpress.
With low confidence levels over recent months, the business community had reason to see some light at the end of the tunnel with the upcoming Christmas trading period.
Unfortunately the Reserve Bank had other ideas and the interest rate rise handed down on Melbourne Cup day will have an impact on consumer spending over the festive season.
We saw last year the impact of interest rate rises before Christmas and we will again see many businesses throughout the State remain under significant pressure.
Employment opportunities are often generated at this time of year, however lifting interest rates hits consumer confidence and ultimately deters businesses from increasing staff levels.
With retail trade struggling and the unemployment rate rising, we could see no justification for the rate rise.
The presentation of the recent Business SA 2010 Export Awards was again a great success. Eleven local companies were recognised for their exporting excellence and we wish them well at the national awards early next month.
There is a full round-up of the awards in this issue of xpress and we also profile a company that won the agribusiness award for the second consecutive year.
In a year that has been packed with elections, we had the local council elections recently and Business SA has expressed concern over the past couple of months regarding changes to legislation that required businesses to re-enrol to be able to vote.
Voting data will no doubt confirm that there was very little awareness throughout the business community about the change, a change which disenfranchises people who actually pay their rates.
The Commonwealth Bank Business SA Survey of Business Expectations for the December quarter will open in the next couple of weeks and I encourage all businesses to have their say.
There are a number of concerns throughout the business community and the survey provides the opportunity to highlight these issues.
Business SA’s networking series continues to attract many members and the recent event at The University of Adelaide was no exception. It was a great evening and a full wrap-up is provided in this edition of xpress.
It’s another busy edition as we also have a look at the assistance being offered from Business SA and we catch up with a couple of Business SA members.
Until next month,