Government’s $1 billion loan package aims to boost drought-affected regional businesses

The NSW Business Chamber has applauded action by the Federal Government to provide farmers and businesses in regional and rural communities with additional stimulus measures to help them battle through the ongoing drought.

The NSW Business Chamber has been a vocal advocate on behalf of businesses in regional and rural communities for Government to take further action to assist them through this very difficult drought.

“I’m pleased to see that the Federal Government has heard our message and has recognised that small to medium businesses in the towns need support alongside our farmers,” Stephen Cartwright, CEO of the NSW Business Chamber, said.

“This is a great response by the Federal Government to get behind the small and medium sized businesses that are the lifeblood of rural and regional cities and towns,” Cartwright noted. “This package will provide a welcome boost to local businesses and will help them recover faster once the drought breaks.”

Cartwright said that all levels of government needed to continue to look at opportunities to assist regional and rural communities in drought.

He noted that the most recent Business Conditions Survey indicated regional and rural NSW recorded the lowest results as they are dealing with the crippling drought and the impacts that it is having on the entire supply chain.

“We need measures and initiatives to address immediate water requirements, but also investment in measures that ensure greater water security and economic sustainability for the future. We need to be pulling all the levers we can at a time when our farmers and small and medium businesses financial futures are on a knife’s edge,” Cartwright said.

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