Positive outlook for Albury Wodonga businesses
Profit growth and planned capital investment are pointing to a positive outlook for businesses in Albury Wodonga. The majority of businesses are feeling positive or very positive about their immediate future, according to results of the seventh annual Albury Wodonga Local Business Survey.
This positivity is reflected in an increasing number of businesses (61 per cent) anticipating investment in building, technology, plant and equipment over the next 12 months. This represents an ongoing escalation over the past three years, with capital investment increasing by 9 per cent since 2013.
Profitability, too, is on the rise for businesses operating in the region, with nearly half of survey respondents (45 per cent) reporting an increase in their bottom line over the past 12 months, together with an 3 per cent increase in employee levels compared to 2014.
Overwhelmingly local businesses are giving back to their community with 94 per cent of respondents reporting contributions to sponsorships, dollar donations and in-kind contributions over the past year.
Survey results also offered insights into
the challenges faced by the Albury Wodonga business community with the cross-border
location affecting 42 per cent of respondents, and increased operating costs proving
to be a barrier for 59 per cent of Albury Wodonga businesses.
A joint initiative of AlburyCity and Wodonga Council, the 2015 Business Survey was distributed to 2930 businesses with a total of 527 responses received across a range of industry sectors.