New businesses surging across the region
Posted on January 17th, 2023
A surge in new business registrations across Rockhampton and the Capricorn Coast has been revealed in recent Australian Bureau of Statistics data.
Registered businesses grew to 8,659 by the end of June 2022 in the region, from 8,136 at the end of June 2021, an increase of 523 new registered businesses in just one year.
Capricorn Enterprise chief executive officer Mary Carroll said “Having more than 500 new businesses register in a twelve month period is certainly positive news for our local economy.”
“Increases across a broad range of industries including health, financial services, wholesale trade, arts and recreation and other services reflect the diversity of business opportunities across the region” she said.
Almost 100 new businesses were in construction and a further 76 were in agriculture, forestry and fishing. Another 80 of the 523 new business registrations in the region are statistically classified as ‘other services’ which include beauty/hairdressing, diet and weight reduction, automotive repair and maintenance, domestic appliance and equipment repairs.
Ms Carroll said “We know that many of the new business registrations are sole traders particularly in the areas of home and personal services, which seems to reflect the needs of busy workers and professionals.”
More than half of business growth has occurred within the Rockhampton Regional council area with an additional 313 new business numbers registered in the year to June 2022, bringing the total to 5,483 registrations.
Business growth in Livingstone Shire has also been strong with close to 200 new business registrations, with 3,161 businesses registered in the council area.
Business turnover has also seen strong growth across the sector, particularly with the number of businesses reporting turnover of more than $2million, growing 16.0 per cent from 568 businesses in 2021 to 659 businesses in 2022 and following 22.9 per cent growth the previous year.
Ms Carroll said “With the continued positive economic growth shown by increasing numbers of businesses registered and increases in business turnover, the Capricorn Coast and Rockhampton region remains an economic powerhouse.
“As growth continues, Capricorn Enterprise remains committed to working with and supporting local business to ensure that our region continues to thrive.”
Source: ABS 8165.0, Counts of Australian Businesses, including Entries and Exits, various editions
