NPSP: A top location in Australia's business landscape
on 21/11/2024
The City of Norwood Payneham & St Peters has been recognised for having the 'lowest risk of business failure' in Australia, according to the CreditorWatch Business Risk Index for August 2024.
Mayor Bria attributes this success to the resilience of nearly 8,000 local businesses and the Council’s supportive approach. “We want to strengthen our partnerships with commercial property owners and traders to help realise their aspirations,” he said.
Recent events, including the AFL Gather Round and Norwood Food and Wine Festival, have boosted the local economy, with $1.83 billion in expenditure from July 2023 to July 2024—up from $1.75 billion the previous year. Key growth areas include supermarkets, dining, specialised goods, and pubs.
This success follows Norwood's recent recognition as one of the “38 Coolest Neighbourhoods in the World” by Time Out Magazine
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