According to the December Quarter 2018 Sensis Business Index, small and medium business (SMB) confidence across the country has reached a nine-year high.
The Sensis Business Index is a quarterly report that tracks small and medium business owners’ feelings towards trading in a range of industries.
The survey, taken from November 5 to December 3 2018, comprised 1,000 telephone interviews with 900 small and 100 medium business proprietors or managers from metropolitan and non-metropolitan regions throughout Australia.
The report found confidence levels increased eight points to +50, the highest level recorded since December 2009. Victoria claimed the top spot, surging to +55 after the State election. This was 14 points higher than the September Quarter report.
Metropolitan SMBs were, as usual, found to be more confident than regional SMBs, recording balances of +58 and +38 respectively. Overall, prospects for the year ahead were also strong particularly in sales, with over 40% of SMBs expecting growth in this area.
At an industry level, Hospitality was the most confident sector, recording a massive increase of 36 points to a record high index of +71. Retail remained the least confident at +26, but this was an increase of 14 points, indicating the sector maintained positivity ahead of its busiest period.
SMBs said they did not feel that decisions made in Parliament affected their business. About six out of ten reported Federal policies had no impact on their business.
The full report, and a video summarising the report, are available at www.sensis.com.au/about/sensis-business-index.