Business conditions, performance and sentiments have improved significantly in The Hills Shire despite rising prices, supply chain disruptions, labor market shortages and economic challenges, according to results from the annual Hills Business Performance Sentiment Index (PSI) Survey.
This year’s survey, completed by 191 local business owners and employees, revealed working environments and feelings towards business had risen to the highest it has ever been in the nine-year history of the PSI – a survey designed to pinpoint challenges The Hills Shire business community is facing.
Local businesses also noted a positive outlook on the economy and performance. As well, profit, cashflow and expansion forecasts have strengthened, suggesting businesses were experiencing growth beyond pre-pandemic conditions.
“The PSI survey results are fantastic news for The Hills community,” Mayor of The Hills Shire, Dr Peter Gangemi said.
“Our Hills Shire business community is finding new and creative ways to adapt to the evolving economic landscape.
“In spite of the challenges they’ve faced over the last two years, including the COVID-19 pandemic and natural disasters, Hills businesses remain optimistic for the future and are in a strong position to handle the uncertain environment,” Mayor Gangemi added.
In addition to these results, The Hills was also identified as a desirable place to do business. This means more people are choosing to start and grow their business here.
In fact, in March 2020 – at the start of the pandemic – there were 22,560 registered businesses and this has now grown to approximately 25,378 businesses across the region.
“People really enjoy the family-friendly atmosphere of The Hills Shire and its proximity to homes and transport centers, including the Metro Northwest, which is connecting The Hills to more places than ever before,” Mayor Gangemi said.
“We also have a world class business park in Norwest and another on its way for Box Hill. The proposed Rouse Hill Hospital will also unlock further opportunities in the health space.
“There’s never been a better time to do business in The Hills Shire,” Mayor Gangemi added.
Mayor Gangemi also thanked those who completed the survey.
“The information that has been provided through this survey is invaluable. It provides insight into how we can tailor our business workshops and programs to further help owners and their employees take their business to the next level,” Mayor Gangemi said.
“I would also like to thank McCrindle Research for being involved in putting this highly informative document together.
“I look forward to working with our business community to build a stronger and more competitive business region,” he added.
To view the results of the PSI, visit The Hills Shire Council website (www.thehills.nsw.gov.au) and search “Hills Business Performance Sentiment Index (PSI) Survey”.