South Australia has achieved the highest number of new restaurant and café openings in the country, according to the latest data from the Australian Bureau of Statistics (ABS). In the report focusing on business entries and exits across Australia, South Australia stood out with a net total of 141 new venues, equating to 28 per cent of all national openings in this sector.
By the close of the 2024 financial year, the number of restaurants and cafés in the state had risen by 5.1 per cent compared to the beginning at the year. This growth in the hospitality sector is indicative of broader expansion across all business sectors in South Australia. Since 2022, there has been an increase of 13,000 small businesses, with 2,400 new entries recorded in the September quarter alone.
The Australian Restaurant and Café Association has attributed the rise to strong support from the SA Government including in the form of major events such as Gather Round and Liv Golf, which boosted tourism numbers.
Last year, for the second year running, the Business Council of Australia found South Australia is the best place in Australia to do business. This recognition follows the government’s introduction of a $14 million Small Business Strategy and a $154 million Economic Recovery Fund designed to offer financial relief and encourage investment among local businesses.
The Economic Recovery Fund has been particularly effective. During its second phase, the fund allocated up to $31 million in energy efficiency grants. These grants have been instrumental in enabling small businesses, including many in the hospitality sector, to invest in energy-saving equipment and reduce overhead costs.
Acting Treasurer and Minister for Small and Family Business, Andrea Michaels, spoke about the significance of this achievement for the state. “It is fantastic that more than 140 new restaurants and cafes have opened in South Australia – the most of anywhere in the nation. We know that the pandemic was particularly challenging for the hospitality sector and so we have worked closely with them to support their recovery,” said Ms. Michaels.
Wes Lambert, Director at the Council of Small Business Organisations Australia (COSBOA) and Chief Executive of the Australian Restaurant and Cafe Association, praised the South Australian Government’s role in this growth. “The SA Government, led by Premier Peter Malinauskas, and with the help of Small and Family Business Minister Andrea Michaels, has been a tireless advocate for small business and the hospitality industry in SA,” he stated. Mr. Lambert also noted that the state’s approach should serve as a model for fostering growth and sustainability in the hospitality industry nationally.
This report serves as an encouraging indicator of economic revival and resilience in South Australia’s business landscape, particularly in the hospitality sector, post-pandemic.
For information on the support available visit: https://business.sa.gov.au
More News
