Are Resources Economies Attracting more Business?

Living in a resource rich state like we are it is interesting to see that nationally it is recognised that the overall conditions for business in our state (and Queensland) are the most attractive in the nation.  I’m guessing that you don’t have to be a rocket scientist to understand that WA and QLD would be performing well in the current economic climate – and this may put greater pressure at a federal level to try to slow things down to help the rest of the nation catch up…  not really what we want to hear unfortunately.

There are some interesting points in this article – one of them being from the Victorian Treasurer Kim Wells:

"...if you have a more efficient government and
 you can reduce the costs of doing business..."

Words to live by for all governments – something that I would like see happening more over here in WA as well…  The question is this attracting more businesses to WA?

I think the major limiting factor to business growth here in WA will not be tax based – although the article does point out the following:

"The report praised boom state WA's low tax
 regime but said additional tax cuts would
 promote further investment and growth."

One of the greater factors we will continue to have is the need for more people to be able to do the work – skilled migration, better training, and so on.  This is backed up by the latest report from the Chamber of Commerce and Industry WA has to say in it’s Commonwealth Bank – CCI Survey of Business Expectations.  It identifies more than 1/3 of respondents were having difficulty getting the workers that they needed… add that to the long term expectation for improved business conditions and this can only mean more labour shortages.

For further information on the above news article is based on a report from the Institute of Public Affairs Australia located on their website here.

Question:

Have you seen any direct increase in Business here in WA?

Tom

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