Business leaders are meeting in Canberra today to discuss why the capital has the lowest business survival rate in the country.

The ACT Chamber of Commerce and Industry called the summit to address what it has described as a crisis.

The chamber's CEO Andrew Blyth says members are telling him that ACT business conditions are worse than recent reports suggest.

"We have over 180 people attending, representing over 100 businesses and organisations," he said.

"I think that's actually sending a massive signal not just to the chamber, but to the ACT Government, that businesses are doing it tough, and that we certainly are going to be listening and taking forward their views."

Mr Blyth says discussions will cover business conditions, administrative costs and the economic outlook in Canberra.

"The aim of this summit is to hear first hand from businesses, and then to work on solutions to actually ease the pressure that businesses are facing," he said.

Treasurer Andrew Barr says the situation for new small businesses is not as bleak as the chamber is suggesting.

"We have high entry and high exit rates in new business in the ACT. But we are growing, the number of businesses that we have year-on-year and that is encouraging," he said.

"But it's not to say that there aren't challenges in some parts of the economy."

 

Advertisement