GRIFFITH BUSINESS SURVEY
RESULTS AS AT 31 DECEMBER 2023
COMPARISON OF PRIOR YEARS
Griffith City Council and Griffith Business Chamber thank all the Griffith businesses that completed the 2023 Business Survey We received over 200 responses, and we were able to collect invaluable information to further the investment and business development in Griffith.
The data capture from 2023 was compared to 2019 There has been little change in business confidence over the past 4 years 45% of participants in 2023 perceived Griffith’s economy as growing compared to 44% in 2019
Businesses are being more heavily impacted in 2023 than 2019 due to workforce shortages, the rising costs of electricity water rent lending wages, staff training & increased competition. Despite these challenges, 73% of businesses were still happy with their overall business performance and seen an increase in sales
AGE OF GRIFFITH BUSINESSES
RISING COSTS
Griffith businesses reported a high increase in rent, cost of lending and salaries/wages with most businesses reporting they had an increase in the cost of goods over the last 12 months
EXTERNAL IMPACTS
The major external issue impacting Griffith businesses in 2023 was the rising cost of power with 95% impacted Rising cost of water, cost of transport and struggling to fill staff positions were also major impacts
70%
Seen an increase in sales in the last 12 months
75% of businesses planning to increase staff numbers this year
33% are currently advertising for staff
