Jerad A. Ford and colleagues write in The Conversation (28.7.16) about the factors that have seen many small regional Queensland businesses stave off the worst effects of the resources sector downturn, and what support they may still need in the post-mining boom economy.
‘The “once in a lifetime” mining boom is officially behind us. Anaemic economic growth and unemployment have already beset the predominately resource-based economies of Western Australia and Queensland.
‘Recent reports out of Western Australia reveal companies are racking up debt to stay in business and many more are becoming insolvent.
‘But new research indicates the small to medium enterprises which survived the pivot away from resources shared four qualities, irrespective of which sector they operated in.’