Although it might take a little more effort with a small cost implication, ‘Look Locally First’ needs to be considered to be able to retain the business we have and encourage new business into Boorowa and the Hilltops region.

Without question, the 2017 retail year has not been one of merit.

While ABS data show growth in retail sales, these must be seen within the broader context of population growth and inflation.  So while over the past year NSW retail sales have grown by around 2.4%, this is very weak in relative terms (for example nominal GSP is currently around 5% so, crudely speaking, retail sales are around 2.5 percentage points behind the rest of the economy).  Further, 2.4% growth is well below trend (which for NSW sits at around 4 ¼ per cent), so retailers across the state are generally doing it tough. 

Last week’s national accounts (GDP et al) showed that consumption is very weak — low wages growth isn’t helping, though I am not sure the extent to which this would be a factor for Boorowa. 

Some of the pessimism that might otherwise be evident in these state-wide numbers is offset due to the legacy of wealth effects associated with the Sydney housing boom.   In 2014/15/16 consumption (and retail sales) had been quite strong because people were spending theoretical capital gains on their real estate assets.  This is now dragging a bit on the retail sales figures.

NAB chief economist Alan Oster made the following observation; "The subdued conditions in retail have been a major concern for some time now, and that was manifested in a very disappointing outcome for household consumption in the third quarter national accounts," 

The gains in sales and profitability made in October were largely reversed in November, while measures relating to employment remained steady.

With concerns about rising energy costs easing in importance, businesses reported rising wages as now being their primary concern.

In Boorowa, our main purchasing market is Canberra, with the balance made up of the extensive passing trade, those that are inclined to stop and experience the delights of Boorowa.

It is the BBC’s intent, commencing in March 2018 to run a campaign telling the stories of those that conduct business within the Boorowa Township.

This campaign will run for a quarter of the year and personalise each business, the format will be based upon past, current and vision for the future.

It is these stories that give life and character to our town and incentive for visitors to make regular buying trips, especially with that personal connection.

After the Hilltops merger, great work had been achieved during the bedding in process, now the Hilltops Council has been formally elected, Hilltops actions will be watched with interest. We are amidst exciting times so it will be important we make the right decisions both for short and long term objectives.

It is great to see the Hilltops Council so inclusive.

Several BBC members and business owners attended the recent ‘Hilltops Connect’ meeting at the Wombat Hotel, this proved to be very beneficial.   The goal was to meet fellow businesses, understand what each business does and offers, and foster discussions about how we can work / benefit each other.   There will be a follow up meeting in late February.

The BBC executive committee wishes all members and residents a very merry Christmas and an exceptionally productive 2018, shopping locally!