Bankwest Economic Update

Events Wanneroo Business | Monday, April 23, 2018

Economic Blog Update

 The facts and figures below are included in the latest update from Bankwest Chief Economist, Alan Langford, this time with a focus on unemployment and full time employment levels.

WA’s headline (ie seasonally adjusted) unemployment rate jumped from 6.1 per cent in February, to 6.9 per cent in March.  The steep rise in the headline jobless rate is a bit misleading, because the participation rate jumped sharply as well.

Nevertheless, the rise in the seasonally adjusted unemployment rate, coupled with annual re-analysis of seasonal factors, was enough to trigger a resumption of an uptick in the official trend jobless rate, which has now risen from 5.6 per cent in July last year, to 6.4 per cent, 0.8 of a percentage point above the national rate. Over the same period, WA’s trend participation rate has risen from 67.9 per cent, to 68.4 per cent - not enough to explain all of the rise in the jobless rate.

WA’s participation rate is the highest of all states, meaning the state’s economy has to generate faster employment growth to maintain the same jobless rate as states with lower participation rates.

But while it looked to be doing just that until about 9 months ago, the apparent ‘surge’ in full-time employment has now evaporated (Figure 1 in the attached graphical summary), if it was ever quite as robust as it seemed anyway.

That’s not to suggest that the recovery in the WA economy has stalled, but rather that it is one thing to generate strong full-time jobs growth when emerging from a very deep trough, but quite another to sustain it month after month, year in year out. The recovery in WA’s economy was always going to be stop-start rather than onwards and upwards, and so too will be the trajectory of full-time employment growth.

DOWNLOAD Graphical Summary


Q & A with Senator Katy Gallagher and Dr Anne Aly MP

WBA Support | Wednesday, May 03, 2017

On 2 May 2017, local small businesses attended a Q & A at Malaga & District Business Association's new Growth Box with Wanneroo Business Association to hear from Senator Katy Gallagher, Shadow Minister for Small Business and Dr Anne Aly MP, Federal Member for Cowan.

Dr Anne Aly MP introduced Cowan as having great potential; 'WA has potential to be the door step to Australia, it is the best place to work internationally and be innovative but we need a vision.  And I want a vision for Cowan.'

Senator Katy Gallagher, Shadow Minister for Small Business said she was delighted to visit WA, as part of the Federal Labor team, she has been requested to get out and talk to small business so that she can feed into policy.  Whilst out speaking with businesses, the top 3 concerns have been getting more customers, confidence and cash flow/payment times.  NBN, red tape and energy prices have also been discussed.


Robert Seth, Tri-Shield Services: There appears to be a perceived pressure on small business from the ATO with no flexibility.  Do you have any thoughts or concerns about this?

Answer: Senator Katy Gallagher - There was a small announcement in the Government's mid year economic update which involved passing ATO debt on to debt collectors.  There are concerns around the implementation of this, the when and how.  Legislation would need to be passed for this to happen, but there are also concerns about the resources needed to bring this in and the data protection aspect of sharing personal details.


Peter Newbound, WA Insurance Brokers: The NBN in Wangara and Malaga is shocking, what are Government doing about this?

Answer: Dr Anne Aly MP - We are aware of these issues, the electorate of Cowan has been left behind.  We are in constant contact with NBN, but this could still see a 2 year wait for some areas.  I have traveled through armored vehicles in Pakistan and had better internet connection than some places in the electorate.  We have put pressure on NBN for an urgent roll out in the area but we are also looking at using local council infrastructure to provide wireless networks to some areas.  Get in touch with my office if you would like to find out more.


Nick Trandos, Trandos Farms - As a market gardener we employ over 100 people from overseas, yet the area we work in has the highest rate of unemployment in Wanneroo and Joondalup.  How do we get Australians to work?

Answer:  Senator Katy Gallagher - There is no policy to fix this, we are looking at tightening visas, but that won't necessarily help small businesses.

Dr Anne Aly MP - work ethic is a social issue, but there are locals looking for work.


Australian companies send business outside Australia to save money, but this sends local businesses under.

Answer: Senator Katy Gallagher - Bill Shorten recently announced a Buy Local scheme for Government's own infrastructure works including materials and work force


Andrew Slomp, Quality Resort Sorrento Beach: WA is unique, small business tends to service local small business so when the economy is doing well so are businesses, but when the economy is weak, small businesses struggle.  When decisions are made on small business in Canberra, you need to remember that small business includes WA, Darwin is the same.

Answer: Senator Katy Gallagher - I agree, I have noticed that the Sydney, Brisbane, Canberra and Melbourne economies are going strong but as soon as you move more remote businesses are struggling.

Senator Katy Gallagher wrapped up the afternoon by thanking the businesses in attendance for taking time out to share the issues, which are difficult to solve immediately.  She gave reassurance that the issues would be taken back to Government.



Business Growth Hacking

Events Wanneroo Business | Monday, February 27, 2017

The first Open Day Masterclass series for 2017 is scheduled at the Hybrid 935, 10am - 5pm 28 February, with four great valuable sessions presented by brilliant local talent on "how to use smart tactics to accelerate the growth and success of your business".

Given the huge success of the first Open Day Masterclass series that was hosted last October 2016 with international entrepreneur David McQueen visiting us all the way from the UK (thanks to ECU The LINK.)  David had in-depth conversations with local business owners sharing his journey of success and some of the stumbling blocks along the way, especially during some tough economic times. Giving reassurance and providing some key strategies, to local business owners and ways to find opportunities for business growth and success, even in the midst of the most challenging times.

Along with David McQueen we also had the privilege of Justin Davies, Director of Emergination, facilitate a session on 'Pitch the Perfect Pitch' where participants learnt some key points on how to best pitch their business and/or new ideas. We also had the team from Mash Media share their know-how on how to maximise Google for business and a session on ‘how to future proof your business’ by Lawrence Group.

So all in all, it was a great success with well over 60 people attending (one or more session on) the Open Day at the Hybrid 935.

Following the great feedback received about our first Open Day, participants were keen to attend more, so we're kick-starting our 2017 series of Masterclass session on Tuesday 28th Feb 2017 from 10am - 5pm at the Hybrid 935.

The theme for the day will be all about Business Growth Hacking and how you can apply some key smart tactics to accelerate the growth of your business, regardless of how the economy may be.

So, we have a great lineup of speakers (let’s call them Growth Hackers) for you, specially chosen for their field of expertise:

SESSION 1: User Experience Websites by WBA Advisor Steven Wigley CEO & founder of Burning Fruit ( who'll be sharing his knowledge and expertise on "how to create 100% client focused websites".

SESSION 2: Digital Marketing by Evan Cunningham-Dunlop CEO & founder of Living Online ( a progressive digital marketing agency. Evan will be sharing his wealth of wisdom on "how to apply key digital marketing growth strategies" to increase your market value and grow your business

SESSION 3: Smart Money Strategies by Fiona Knowles, CEO and Founder of Grotivity ( will provide you with "insights and tips of a '3 step growth’" solution that you can use in a climate where there is limited access to growth funding and little support for early-stage ventures.

SESSION 4: Generation Millennials by WBA Advisor, Dr Helen Sitlington CEO and Founder of Workplace Management Network (, provide you with some key strategies on "how you can manage and maximise the best of the millennial generation and beyond" (to attract and retain the best talent).

So we're sure you'll agree given that all of the above sessions are free for the day, we're delivering way more than you would ever get anywhere else.

If you're wondering whether you can afford to take the day out from your business, then ask yourself can you really afford not to? Consider this as a day of investing in you and your business to learn from great local talent on "how to accelerate the growth and success of your business by using simple smart tactics"

For more information and to book your seat (as they are limited, then) go to:

Looking forward to seeing you at the Hybrid 935 for a day of GROWTH HACKING!


This event is brought to you by these collaborators, in true Hybrid 935 style:

For more info on the Hybrid 935 click here


Sign Up for our newsletter

Subscribe to the WBA eNewsletter to receive invites to the latest events, local & business news, member notice board and special offers.

Follow Us