The number of local businesses in Liverpool increased from 17,508 in 2019 to 17,962 in 2020, proving the point that a crisis is also an opportunity.
It was part of a positive picture for the biggest local government area in the South Western Sydney region, which also recorded impressive economic growth despite the pandemic.
Figures from national economic modelling tool, economy.id show an increase in Gross Regional Product from $11 billion in 2019 to $13.03 billion in 2020.
Liverpool Council’s resilience packages for local businesses helped many stay afloat, just as nearly 500 new one started operating during this period.
Council’s strategies to support local businesses will continue.
“We recognise that small business is the backbone of our local economy and we’re currently developing a five-year, small business development strategy in which council will work with more than 17,000 local businesses, providing advice and assistance to grow and maintain operations well into the future,” says Liverpool Mayor Wendy Waller.
There was also good news on the job front in the same period.
Local jobs increased from 91,295 to 98,419, according to the National Institute of Economic and Industry Research.
Council played a role in this area also, with measures such as the Local Jobs for Local People program.
Council’s city economy team contacted nearly 1000 businesses in the Liverpool area in 2020 to provide support and resources, including delivering more than $150,000 in grants and support programs to assist those firm hardest hit.
According to the research, Liverpool’s largest industry in 2020 was health care and social assistance. Liverpool Hospital is the largest standalone hospital in Australia.
