When I arrived in Adelaide from Perth 18 years ago, the stain of the failed State Bank was on everyone’s lips even though it had occurred nearly a decade before.
People constantly asked me, with looks of genuine bewilderment, why I’d left Perth to come here. Like the old joke on the office wall, South Australians were addicted to flogging themselves and morale wasn’t improving. Fast forward to now. The Business SA-William Buck Survey of Business Expectations recently found business conditions in SA were at their highest for 11 years. A recent survey by Bank SA put consumer confidence at a 10-year high. Here’s why.
1. The world has discovered us. We’ve appeared in international rankings with recognition money couldn’t buy. Our visitor economy is on fire with international visitors spending $1.15 billion last financial year and an $8 billion visitor economy within reach. From international education to major events, we’re starting to see our value from a global perspective and we’ve stopped caring about the tired old east coast sledging.
2. We’re attracting massive investment, with hundreds of billions of dollars across naval and defence projects, as well as mining and resources, manufacturing, education and agribusiness. Major global players have arrived and Mitsubishi’s national headquarters going into a billion-dollar Adelaide Airport expansion is an example of investor confidence.
3. Our city has woken. Small bars, reclaimed alleyways, a French quarter, our award-winning Central Market, live music, City of Adelaide placemaking strategies, international students and tourists are part of this revival. Then there’s the extraordinary cultural, academic, entrepreneurial and scientific boulevard North Tce is becoming. We can back up the boast of being a vibrant, global, boutique city alongside Pittsburgh, Dublin, Austin and Copenhagen.
4. We’re creating a generation of young entrepreneurs – job makers, not just job takers. Given the excitement around Lot Fourteen, our entrepreneurial spirit remains alive and with Ten Gig City we look forward to being one of the most connected places globally.
5. Our predominantly small business community has shown extraordinary courage faced with gruelling energy costs, skills shortages and difficult business conditions to continue to invest, create jobs. These small metro and country employers are the heartland of communities and we are proud of their resilience;
6. We have a new State Government. Confidence can’t be manufactured by glossy brochures, campaigns to make us feel better about ourselves, or a chronic series of big announcements with optimistic new jobs numbers. Labor’s end came because the community became jaded with the frenzied spin to rationalise appalling power prices, hospital cost blowouts, and failures to protect children and the elderly. Refreshingly, the Marshall Government is more interested in fiscal repair and genuinely improving economic conditions for businesses and employers than sound bites and incessant media spin.
After two contracts and seven years, I’m moving on from this role next June.
I’ve never been prouder of my Business SA team and the way we continue to serve this state’s business and employer community.
I have never been more confident about SA’s future.
Today is traditionally the time when Australians take a punt. The best bet you can make is confidently backing South Australia and its future. I will be.
Nigel McBride is chief executive of Business SA.
This article was originally published in the South Australian Business Journal on Tuesday 6 November 2018.