Australia bank note,coins,account book and calculator in top view


Economic Update
& Federal Budget 2023
Implications for business


The Australian economy is navigating through choppy waters. The cost of doing business has increased markedly over the past year, and persistently high inflation has prompted the RBA to raise interest rates at the fastest pace in recent history. Business NSW research has found that more than one in four businesses in NSW would need government assistance to survive this challenging time. With a cautious economic outlook, all eyes are on the Federal Budget 2023 for the government’s response. What support will be made available for businesses, workers and families?  This exclusive event featured Dr Sherman Chan, Business NSW Chief Economist and Ben Pike, Executive Manager, Media and Marketing.

Sherman provided:

  • An update on the Australian and NSW economies, focusing on emerging risks and opportunities for business. 
  • Highlighted key new measures from the Federal Budget.
  • Analysed their implications for business.

    Ben facilitated the Q&A with questions from the audience, delving further into topics that matter most to Business NSW members.   


You can download the Presentation that was used in this event HERE

Speakers Thumbnails (500 × 500 px)

Dr. Sherman Chan

Chief Economist | Business NSW

Dr Sherman Chan is an economist with experience in government, banking, and consulting. She holds a PhD and a Bachelor of Commerce (Honours in Economics) from UNSW. Proficient in both macroeconomics and microeconomics, she has been a sessional lecturer at UNSW since 2014.

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Ben Pike

Executive Manager, Marketing and Media | Business NSW

Ben is responsible for helping Business NSW shape and influence policy outcomes through effective communication and marketing strategies. He brings more than 15 years of media experience, having most recently worked as both acting chief of staff and senior journalist at The Sunday Telegraph.

The statements, analysis, opinions and conclusions expressed in this Member Briefing presentation and any related written materials (collectively, the Briefing Materials) do not necessarily represent the views of BusinessNSW. BusinessNSW expressly disclaims any and all liability arising from or in connection with the access to, participation in, or use of the Briefing Materials by you or any other person. Any advice provided as part of the Briefing Materials is general in nature and does not take into account your personal objectives, financial situation or specific needs.