Welcome to the July issue of xpress.
The release of the Government’s carbon tax policy has generated much discussion and created concern throughout the local business community.
Rising costs are already putting local households and businesses under strain and this tax is going to take current burdens to a whole new level.
It is also concerning that many small and medium sized businesses throughout the State will not be compensated and will feel the full force of the new tax.
Our emissions here in Australia pale into insignificance compared with the rest of the world and we do not believe that this tax should be introduced before there is a binding global agreement.
Businesses will be competing with countries that have no carbon tax, allowing these competitors to operate more efficiently and produce goods at a lower cost, impacting local jobs, investment and production.
Further details about Business SA’s position on the carbon tax are outlined in this issue of xpress.
In better news, we welcomed the Reserve Bank’s decision to leave interest rates on hold earlier this month and we can see no justification for them to rise in the second half of this year.
The latest retail trade figures continued to highlight the impact of low consumer spending throughout the economy which is restricting any recovery in business confidence.
It is pleasing that the solid growth in exports over the last 12 months has continued, and this has been one of the few shining lights in the South Australian economy, particularly given the pressures of the strong Australian dollar.
Our local unemployment rate is also heading in the right direction, however recent wage increases will no doubt have an impact on small businesses in the coming months.
Applications are closing soon for the 2011 Business SA export awards and I encourage all members of the local exporting community to participate in this year’s awards program and be recognised for the great work that is being showcased to the world.
Business SA’s popular networking series has continued with the latest event at the Adelaide Festival Centre. A full wrap-up of the event is available in this issue of xpress.
Also in this issue we take a look at Business SA’s successful Women of the World event, featuring guest speaker, the Hon Kate Ellis MP.
We’re into a new financial year and there are plenty of challenges ahead for the business community. Business SA will continue to work hard on behalf of its members and local businesses to ensure a supportive environment in which to do business.
It’s another busy issue of xpress 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 edition,