Chamber of Commerce NT’s 2020 Business Outlook: Extremely poor and poor dominate economic survey results

THE new results of the Chamber of Commerce NT’s 2020 Business Outlook Survey are in. And it doesn’t make for good reading

More than 60 per cent or resondents to the NT Chamber of Commerce’s 2020 Business Outlook Surve yrated the Gunner Government’s economic and business performance as extremely poor. Picture: iStock

BUSINESS confidence continues to be challenged in the Territory.

The final Chamber of Commerce NT’s 2020 Business Outlook Survey results released on Monday revealed out of 584 respondents, 61 per cent rated the Gunner Government’s economic and business performance as extremely poor — up from 53 per cent in 2019.

2019 RESULTS: Business warns Gunner: ‘This is your last chance’

Territorians continued to be concerned about the future, with 42 per cent having a negative outlook for their own businesses.

Thirty per cent were neutral and 28 per cent optimistic, which were the same results as 2019.

Outgoing Chamber of Commerce NT chief executive Greg Bicknell said the overall results were similar to last year’s, in particular business outlook and government performance.

“This was despite a slight upswing in the business outlook for the overall NT economy, up from 14 per cent to 18 per cent,” he said.

“But hiring expectations remain subdued, with only 17 per cent planning to increase staffing levels in the coming year”, he added.

NT NEWS special half price subscription deal: Just $3.50 a week*

“This is consistent with our mixed economy where some businesses are doing well, including those with contracts to service some of our major projects whilst many others, including those in the retail and construction sectors, are finding it tough.”

He said the key factor identified by business as most affecting the economy was government policy, followed by economic climate and population decline.

Mr Bicknell said the Chamber would address policy positions at an inter-regional meeting on February 14, and at a board meeting on February 19.