Devastating disaster season continues: Full economic impact of floods on businesses in Central and South West Queensland could take weeks to assess 

By Gabi Leverett

Businesses across Central and South West Queensland are the latest to be hit by disaster with record breaking rain impacting livestock and cutting transport links and supply chains. 

Queensland’s peak business body says this latest disaster is yet another blow for Queensland businesses already impacted by record-high operating costs and challenging business conditions. 

Business Chamber Queensland spokesperson Emma Clarke says the full economic impact of the floods won’t be known for weeks. 

“As we’ve already seen this year, floods have an enormous impact on businesses and their communities,” Ms Clarke said. 

“Agriculture, a dominant industry in Central and South West Queensland, is particularly susceptible given the devastation flooding can have on livestock and crops, isolating producers and communities from businesses they depend on to get produce out. 

“It’s also important to recognise that it’s not only the businesses which are physically impacted by flooding, but also those who face indirect impacts such as supply chain interruptions, workforce unavailability and prolonged power and service disruptions.  

“More than 1,900 businesses operate in South West Queensland, including primary producers, their suppliers and customers, and tourism operators. They all need swift recovery and transport network restoration when safe so they can get back to business and supporting their communities. 

“We welcome the Queensland government’s activation of personal hardship grants, disaster loans, and freight subsidies for primary producers and small businesses, which will help address some of the immediate challenges in affected areas. 

“Businesses have told us they’re already doing it tough in Queensland and natural disasters add to these compounding business pressures.  

“In the December quarter, our data showed consistently weak profitability which returned to its lowest levels since the peak of the COVID economic crisis, while three in four businesses reported yet another increase in their operating costs.” 

Ms Clarke said businesses needed to be supported to improve long-term resilience, maintain continuity wherever possible and establish an ‘always ready’ plan for when natural disasters occur. 

“With two floods in two months impacting the North, a tropical cyclone crossing the coast in the South East, and the current widespread flooding in the Centre and South West, disasters are unfortunately fast becoming part of business life in Queensland,” Ms Clarke said.  

“We need to put in the time and effort to support businesses to respond to risks and challenges, rather than waiting for disaster to strike.”