Business Confidence Still Fairly High

02:20' 07-02-2018
According to the latest Sensis Business Index (SBI) survey, business confidence among small and medium businesses (SMB) in Victoria fell 7 points in the final quarter of 2017. Although this puts Victorian SMB business confidence behind NSW, it is still 1 point above the national average.

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    The survey reflects the views of 1,000 SMBs across Australia, and revealed that 27% of small businesses think the economy is growing, while 14% think it is slowing. The 13 point difference indicates an overall increase of 5 points, the highest result since 2011.

    An interesting result comes from comparing Melbourne to regional Victoria. While business confidence in Melbourne fell to 4 points below the metropolitan average, regional business confidence rose to nine points above the national regional average. 

    Across the nation, each state and territory saw a decline in business confidence, except in Tasmania which became the most confident state. Although the national average of +42 is a decrease, it is equal to the third highest confidence level since March 2011.

    By sector, the most positive views are found in Cultural, Recreational and Personal Services (+8), followed by Building and Construction (+4). The least optimistic sectors were Wholesale and Retail Trade, which fell respectively by 24 points and 14 points.

    Sensis CEO John Allan said: “The biggest concern for Victoria’s small businesses is falling sales volumes, whereas those who are confident cite having an established business as the main reason for their confidence.”

    The economy is considered healthier than at any time since 2010 and is expected to remain strong in 2018.

    Park W




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Keywords: australiamelbournesensis business index

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