none

MANUFACTURERS CONFIDENT IN SA

19-08-2019
by 
in 

Manufacturing plays an important part in South Australia’s economy. While the industry has seen changes over the years, with a shift from traditional manufacturing to more advanced techniques it has remained resilient.

As the state’s only bank with a dedicated manufacturing team, BankSA has been a constant supporter of the manufacturing industry and according to its most recent BankSA State Monitor survey, the outlook is bright.

BankSA’s State Monitor consumer and business confidence survey released this month, shows that the manufacturing sector was one of three most confident sectors surveyed, the others being financial services and community services.

The manufacturing industry saw the biggest uplift in its confidence in the overall business climate in South Australia, along with business owners reporting improvement within their own business.

Business owners in the survey recognised the importance of labour productivity and investment in new plant and equipment to support their business activity, and intend to create additional employment and make major business purchases in the coming months to help underpin their current business activity and seek growth.

Coupled with the Federal Government’s incentives and a boost to the instant asset write off for assets less than $30,000, these are good indicators for South Australia’s manufacturing sector.

BankSA is focused on being a catalyst for growth and prosperity in South Australia, and our team of experienced industry bankers work closely with our customers in the manufacturing industry to support their success.

We have a range of solutions to help in managing cash flow, mitigating risk and funding capital investment. Get in touch to find out how our expertise can help your business grow.

Todd leads the BankSA Industry Specialisation Team of industry banking specialists. He brings a wealth of experience from more than 30 years in banking to help support South Australian manufacturers.

BankSA
0466 493 740
www.banksa.com.au/corporate-business/industry-specialists

 

Related news & editorials

  1. 20.10.2020
    20.10.2020
    by      In , In
    St.George Bank chief economist Besa Deda has conducted an analysis of what the federal budget means for manufacturing and the sector’s role in the recovery from the COVID-19 recession.
    It is a budget Ms Deda describes as one for our times. “To do nothing or do little risks leaving future... Read More
  2. 15.09.2020
    15.09.2020
    by      In , In , In
    It may be seen as a bit of an irony to suggest that there has never been a much better time for manufacturing business to bask in the glory of public attention, especially during a time of COVID-19 pandemic.
    But according to Chief Executive Innes Willox from peak employer AiGroup, it is a time for... Read More
  3. 15.07.2020
    15.07.2020
    by      In , In
    St.George Chief Economist Besa Deda offers a renewed outlook for the Australian manufacturing sector as the fallout from the coronavirus pandemic continues.
    When COVID-19 hit the world in early 2020, economies were shattered as lockdowns forced social distancing and mass business closures. The... Read More
  4. 15.07.2020
    15.07.2020
    by      In , In , In
    Digitalisation and the acceleration of globalisation over the last two decades has offered Australian customers convenience and greater choice. Many local brands have taken a hit where international goods have succeeded due to their price competitiveness.
    While the COVID-19 pandemic has caused... Read More