Survey results show region resilience

Toowoomba and Surat Basin Enterprise (TSBE) recently conducted a COVID-19 focused survey of their members.

The aim of the survey was to understand the impacts faced by businesses across the region, as well as gain an understanding of what may be required to speed up the recovery process.

136 members responded to the survey, providing TSBE with feedback from across a vast range of industry sectors such as health, manufacturing, construction, agriculture, mining and a large number of professional services firms.

The finding showed that 97% of businesses had not ceased operating due to COVID, and 72% did not have to reduce staffing levels during the crisis.

Close to 50% of businesses indicated they had taken the time to invest in upskilling during the downturn, demonstrating that businesses are using this time to focus on industry learning which will be useful in their recovery journey.

TSBE CEO Ali Davenport said that while 57% of businesses had experienced a decrease in sales, it was good to see that many were able to alter their business strategy and stay operating.

“It has been amazing how our business community has reacted quickly, demonstrating the resilience of our region,” said Ms Davenport.

“However, we know the effects of this pandemic are not short-term and our economy will take a significant time to recover.”

“One thing that has become clear from this survey is the need to focus on fast-tracking development and infrastructure projects, which will assist in our region’s recovery,” said Ms Davenport.

Specialised Property Consulting’s Director Gordon Grover said there is a big opportunity right now to attract international investment.

“COVID-19 has only further strengthened the perception of Australia as an extremely safe place.  Toowoomba should position itself as an attractive region in Australia to invest,” said Mr Grover.

Now that restrictions are lifting it is more important than ever to start planning ahead and take hold of any opportunities.  

Ms Davenport said, “the diversity of our economy, maximising the number of major projects on the horizon, such as Inland Rail, paired with a long term vision is what will assist our region to recover from the downturn created by COVID.”

Visit www.tsbe.com.au to keep up to date.