Road to recovery: Business and consumer confidence on the rise, but support is still needed
Politicans are confident Tasmania’s economy will bounce back after spending $1 billion on support and stimulus, but Tasmanians still need to lend support to local businesses.
The Launceston News
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BUSINESS and consumer confidence is already returning after the State Government revealed its Road Map to Recovery last week says minister for state growth, Michael Ferguson.
Many businesses are preparing to increase or resume operations with dates now outlined for the gradual lifting of community restrictions.
Mr Ferguson said Tasmania’s economy will make a strong recovery, but local business would need continued community support.
The Gutwein government has spent more than $1 billion on its total support and stimulus package with almost 15,000 business grants delivered.
More than 12,000 applications have also been lodged with the state Government for a slice of its $50 million business loan fund.
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“It’s about supporting the community, it’s about supporting business and it’s about supporting jobs,” Mr Ferguson said.
The small business grants have ranged from between $2500 and $15,000 depending on need.
Businesses can receive up to $250,000 through the Government’s business loans scheme.
“These businesses will survive,” Mr Ferguson said.
“We therefore want to protect their jobs and make sure that Tasmanians have the best possible chance at a strong economy as we come out of the emergency response now that we’re in recovery.”
Inner Space Wardrobes was a recipient of a Government business loan and director Ken Saville said without it, he would have had to restructure his business and stand down staff.
“Our business was flying come the middle of March and we were way ahead of what we were last year,” he said.
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“And then COVID hit and basically the phones stopped ringing and everyone started to think ‘what’s going to happen here?’.”
Mr Saville said the loan had allowed him to continue paying the bills and focus on manufacturing throughout the consumer slump.
“I feel very positive. With the backing now of the grants from the Government, I know I will get through this and keep the staff employed.
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“The confidence has come back in the last few weeks and we’re starting to see things progress quite well again.”
Mr Ferguson said businesses would have to be patient and wait for the right level of staging before they return to normality.
“We need to continue to lift those restrictions in a very careful, gradual way so that we don’t find ourselves in a deeper lockdown.”
He encouraged to consumers to keep buying local, online or through contactless pick-up where possible.
More than 700 businesses have listed their goods or services through the Government’s new online marketplace – buysomethingtasmanian.com.au – since it was launched last week and the website has had more than 70,000 hits.
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