finance
Market Trends and What Businesses Need to Know Right Now
Newcastle firms face fresh pressures from network failures and shifting supply costs as July trading data emerges.
How we reported this
The Telstra network outage that hit on July 9 left EFTPOS terminals offline at dozens of Newcastle venues and cut card payments for more than four hours in the Hunter Street retail strip.
Businesses now confront a clear trend toward greater reliance on single-provider mobile networks while transport links remain fragile after V/Line services slowed across regional routes. The timing matters because July marks the start of the financial year reset for many retailers and hospitality operators who must lock in stock orders and staffing rosters before the spring tourism lift.
Local Exposure on Key Streets
Shops along Darby Street in Cooks Hill and the Port of Newcastle waterfront precinct reported the sharpest payment delays, with several cafes reverting to handwritten receipts and cash-only trading until mid-afternoon. The Newcastle Business Chamber circulated an internal alert at 9:17 a.m. urging members to test backup Wi-Fi hotspots and satellite terminals before the next trading week.
One Darby Street bakery recorded 68 percent of its morning sales lost when the EFTPOS link dropped, forcing staff to direct customers to nearby ATMs on Beaumont Street. The chamber’s data shows at least 140 member businesses in the Newcastle West and The Junction areas logged similar interruptions.
Numbers That Set the Agenda
Reserve Bank figures released this week put average daily card turnover for Newcastle small businesses at $4.2 million in the June quarter, a 7 percent rise on the prior year. The outage wiped an estimated $1.1 million from that daily flow across the city alone, according to chamber estimates compiled from member reports. Wholesale fuel prices at the Port of Newcastle terminal rose 4.3 cents a litre on the same day, adding pressure on delivery costs for operators already absorbing higher electricity charges.
Businesses should now audit their payment processors for multi-network redundancy, register with the chamber’s new supplier-matching program by July 16, and test cash-handling procedures at least once a fortnight. Those steps will cut exposure when the next network glitch arrives.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.