Northern Territory businesses optimistic about their expected growth over the next 12 months: Deloitte Private surveyDOWNLOAD
5 September 2013: Almost a fifth (16%) of businesses in the Northern Territory expects growth of over 30% within the next 12 months, according to Deloitte Private’s inaugural Northern Territory Blueprint for Optimum Growth survey.
“Businesses across a range of industries in the Northern Territory are telling us that they are optimistic about the opportunity to leverage off major developments in the construction and resource sector. This positive sentiment is reflected by the significant investments being made in hiring talented people, upgrading plant and equipment as well as buildings and premises,” said Karen Green, Deloitte Private Partner.
The Northern Territory survey of almost 100 businesses across a range of industries examines key issues affecting business growth such as key inhibitors of growth, levels of optimism and the impact of growth barriers on optimism.
“The survey results show that even though businesses expect growth over the next 12 months, retaining qualified and reliable staff remains a concern across the Northern Territory due to the high population turnover and costs of living,” said Ms Green.
“In my experience the above results are not surprising in that there are such a varied range of projections forecast over the next 12 months. This graph illustrates the industry diversity which makes up the Darwin economy. There are major project opportunities across the Territory but often they do not cascade through to all businesses in the region,” said Deloitte Private Partner Suzanne Archbold.
Summary of results include:
“New product development, improved distribution channels and expansion into national markets have been identified as key focuses for growth strategies. It will be the organisations that can embrace these challenges, understand and meet their financial and cash-flow needs and adapt quickly to changing conditions, including regulatory changes, which are likely to emerge as winners in the race to ensure their growth projections are met and maintained to 2015,”concluded Ms Green.
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