Economists report good times for growth in Australia, but is your state the best place to do business?

Australia is powering towards the world’s longest period of economic growth without recession, but while economists see plenty to like ahead of May’s federal budget, not all states are equal, and the small business community is pushing for tangible policies to help companies expand over the next few years no matter where they are based.

A quarterly business outlook report from Deloitte Access Economics released today highlights a “spectacular lift in wealth” across the nation, due largely to our ever-climbing house prices, with the “average” Australian family now millionaires, given the net worth of households is now $9.4 trillion.

However, as economists have previously pointed out when considering the vulnerabilities of Australian business conditions, some states have it better than others.

The Deloitte report suggests Western Australia, the Northern Territory and Queensland are continuing to suffer from the mining slowdown, while New South Wales and Victoria have been the big winners out of economic “megatrends”, with population growth in Victoria giving the state a leg up into the future. Read more

Emma Koehn - Smart Company - 18 Apr 2017