Tasmania’s retail sector continues to smash records, with new ABS figures showing $506 million in retail turnover for October.
It’s the 24th consecutive month of growth in the retail sector and the sixth month in a row where turnover has topped $500 million. Over the last 12 months retail turnover has jumped 3.9 per cent.
This weekend I visited Face Bar in Devonport and talked to the team about how they are thriving in a very competitive market. Face Bar has seen its business grow over the past 12 months despite increased competition from online outlets. It’s small businesses like Face Bar that are driving the growth in retail turnover.
This is a great example of the high levels of confidence in the small business community at the moment, which is only going to increase over the next month and I would urge everyone to buy local when they do their Christmas shopping this year.
Under the Hodgman Government, business confidence is improving and retail turnover is at record highs, but we realise there is still more work to be done to create jobs and grow our economy.
That’s why the Government has rolled out a $100 million Northern Economic Stimulus Package, which will see investment flow for key projects in the North and North-West to create jobs.