Recently released figures show that the South Australian economy is leading the nation in growth.
The Festival State has the strongest growing economy in Australia, according to State Final Demand (SFD) figures released by the Australian Bureau of Statistics.
SA’s SFD for the March Quarter increased by 1.3%, almost double the next best in Queensland and well ahead of the national GDP growth of just 0.2%.
SA Treasurer Stephen Mullighan said the figures “should give South Australians confidence that the state’s economy is heading in the right direction.
“With inflation easing and interest rates beginning to come down, we are starting to see household spending pick up which will be welcome news to thousands of small businesses in the state.”
Diverse industries, skilled workforce
South Australia’s industry portfolio is diverse and includes manufacturing, agriculture, forestry, fishing, healthcare and social assistance. Mining, tourism and food/wine are also significant sectors.
The state’s economic success is due to a variety of factors, including strong government investment, a skilled workforce, investments in infrastructure, and a focus on attracting investment and talent.
Record levels of South Australians are employed, and the state is working to maintain skill levels through migration programs and supporting the higher education sector.
South Australia also has a supportive Small Business Strategy which aims to future-proof the state’s 159,000 small businesses.
Looking for a business to purchase in South Australia:
If you’re considering taking advantage of South Australia’s strong economic growth, now is a great time to explore business opportunities in the state. Browse available businesses for sale at: https://www.ctoc.com.au/business-for-sale/