Edgar Adams' Editorial

The World is in turmoil, the global financial crisis is enveloping us all, but the sun will still rise in the morning as it always does. The 1987 share market crash and the “recession we had to have” was going to destroy us all and we survived that. But the days of no-doc loans and lo-doc loans are gone which is no doubt a good thing.

With low interest rates and nothing to back up a business case, too many people who thought they could run a business borrowed far too much and then found themselves in bother. This was particularly so with people buying into retail. Of course there were some who used lo-doc loans and low interest to invest and get into business and have succeeded, which has been a good thing.

But we are certainly in for tougher times which brings to remember the old adage, “when times get tough the tough get going”. Those who have adopted good business practices over the years and built up a reputation for service and quality will do okay. So let those of us who run their businesses in a professional way keep positive.

There are plenty of people who remain positive.

This month we report on Pro Ali Design who has just completed a major expansion of their factory. Here is a company that over twenty years have built up a reputation for quality and service in a very competitive industry.

Mingara Recreation Club has just opened their new fitness centre at a cost of $6 million.

Ospray, a new company to the Coast has bought out the former Bayer formulation plant at North Wyong.

Flashpoint Fire Services is moving forward with their plans to expand and have invested a significant sum at West Gosford.

We welcome Pelican Products to the Central Coast from South Australia. A US owned company, Pelican’s Australian distribution company will be another great asset for our region.

And then we read that at Somersby this year there has been $48 million worth of sales.

So there’s not much doom and gloom there!

This month's feature on the Hunter Region is well worth reading. From Newcastle to Maitland and Muswellbrook, things are happening. The economic diversity of the region is staggering and the investment that is pouring in is equally staggering.

There may not be a lot of confidence around generally but there are plenty of confident investors when it comes to this region. It's not just about coal, which will continue to underpin growth (regardless of what the Greenies think) in the HUnter for years, but about an attitude of mind in getting things done.

Everyone in business who continues to look south for opportunities is missing the greatest opportunity of all. Unfortunately, space precluded us from being more far reaching this time so why not get in your car and go up and have a look yourself.

Edgar Adams
Editor

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