Canberra business confidence booming

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BUSINESS confidence rose by nine points this quarter, to now sit at its highest level since February 2011 among the Australian Capital Territory’s small and medium businesses (SMBs), according to the latest Sensis Business Index (SBI) survey.1

Sensis Chief Executive Officer, John Allan said ACT businesses are now the second most confident in the nation following a strong quarter, with the Territory posting the best results for sales, prices and profitability.

“Businesses in the ACT are feeling positive about their own specific business strengths and also reported healthy, growing sales,” John said.

“The net balance score for ACT business confidence is +49, which is calculated by comparing the difference between the number of confident SMBs (61%) versus the number of worried SMBs (12%).

“The Index, which reflects the views of 1,000 small and medium businesses from across Australia, also found that support for the ACT Government has gone backwards and is now in negative territory.

“Despite the rise in confidence, businesses have growing concerns with regards to the policies of the ACT Government. Excessive bureaucracy is seen as a key issue, and many businesses also worry the Government doesn’t understand their needs,” said Mr Allan.

Other key findings specific to the Australian Capital Territory are:

  • 18% think the economy is growing, versus 20% who think it is slowing. The net balance of -2 is the same as last quarter, and while negative, is the third highest score in the nation
  • ACT businesses are by far the most positive about the prospects for the economy in 12 months’ time, posting a net balance of +21
  • Last quarter, while the ACT recorded the best results for sales, prices and profitability, employment and wages were closer to the average
  • For the current quarter, expectations on all five indicators are positive. Employment is expected to improve, with the ACT the most positive, while profitability is set to decline, with the ACT the most negative.

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