Business confidence surges post-Covid

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Business confidence in Warrnambool has reached a new high, the latest Warrnambool Business Survey has revealed.

The 2022 survey of more than 310 businesses found that 62 per cent of respondents felt business was “good” or “excellent” compared to the 2019 pre-covid figure of 41 per cent.

The survey also showed that 39 per cent of responding businesses expected to increase employee numbers, compared to 23.5 per cent in 2019.

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“These are really encouraging findings and it’s certainly a great reflection of the activity and energy you feel in the city,” Warrnambool Mayor Cr Debbie Arnott said.

“Equally positive was that a third of respondents said they are financially better off than they were 12 months ago, compared to 27 per cent in 2019.

“It’s a strong post-covid resurgence and a credit to our resilient business community and to the wider community which is looking for local goods and services first.”

The Warrnambool Business Survey is a partnership between Council, Deakin University and Beyond Bank.

“Deakin University is very happy to be involved in undertaking the analysis of the survey findings from the business community in Warrnambool,” Deakin University Director Warrnambool campus Alistair McCosh said.

“Being involved in the survey since its inception in 2011 and unpacking the trends and business sentiment over this period is a valuable contribution that the University can make for Council.”

The survey findings were presented in detail at a free Warrnambool Business Briefing on December 7 hosted by Cr Arnott.

The first survey was undertaken in 2011. Initially an annual survey, it became biennial in 2015 but was held over during the Covid-impacted years of 2020 and 2021.