Restoring Confidence In Queensland

One of the most important parts of the recovery process for businesses is to restore confidence, not only for Australia but for overseas as well.

With more than 70% of Queensland affected, the floods have impacted on many industries, including mining, property, trucking and tourism. The important thing to do now is to make sure people can get back into their businesses as fast as possible and send a clear message to the world that Queensland is back open for business.

The economy has already seen problems, as consumer confidence levels tumbled in January with the Westpac-Melbourne Institute consumer sentiment index dropping by 5.7%. Despite only Queensland having been affected by the floods at the time of the report, the drop outside the State was still 3.2%, representing adverse effects on other states with concerns for national economy and their own financial positions.

While it seems there are many negatives in the short term, according to a report by Access Economics the Queensland share of Australia's economy is expected to make further gains in the long term, particularly through recent major projects approved in the coal and gas sectors.

The Queensland Government has moved fast to help Queensland get back on its feet and within a week of the floods had established the Queensland Reconstruction Authority, which will be responsible for developing and implementing a state-wide plan for rebuilding and reconnecting communities across the State.

The plan will serve as a blue print for rebuilding communities, potentially shaping the social and economic development of flood affected areas for generations.

It will coordinate with local governments and communities to ensure the unique characteristics of each community are considered during the rebuilding process.

Along with this, the Queensland and Australian Governments offer a range of grants and subsidies to help those in need and to ensure cash flow begins operating again and already millions of dollars has been distributed to those in need.

So while things may not seem so bright for many of us right now, with help, there are many positive outlooks for the future. And while Queensland has certainly been knocked down and experienced major setbacks, there is no doubt in anyone's mind that we will stand up once again and be bigger and better than before.

Tara Downey is Communications Officer for McGees Property, Brisbane. She has a media background spanning more than 10 years with working experience in business reporting, travel writing and newspaper journalism. McGees Property specialises in commercial real estate with our successful and highly skilled sales, leasing, valuations and professional services, and asset management teams. http://www.bne.mcgees.com.au