CANBERRA’s small and medium business (SMB) confidence has dropped eight points, but remains the second highest in the country, which is 10 points above the national average, according to the latest Sensis Business Index (SBI) survey.
Sensis CEO John Allan says small businesses are saying their confidence levels are being driven from being established businesses, having higher sales and specific business strengths.
“Those lacking confidence pointed towards lower sales and unfavourable government policy,” Mr Allan says.
The Index, which reflects the views of 1000 small and medium businesses from across Australia, reveals a significant drop in support from ACT government’s policies.
Mr Allan says support for the policies of the ACT government fell 15 points to -12, the second consecutive fall after hitting +15 in June 2017, which had been the highest in three years.
“Small businesses are telling us that their main areas of concern are too many imposed costs and that not enough is being done about employment,” he says.
Shadow Minister for Business and Employment Andrew Wall says the results showed 64 per cent of ACT businesses surveyed believe that government policies designed to support businesses have little or no impact on their bottom line while 24 per cent believed that government policies are working against the best interests of their businesses.
“The Labor-Greens government does not have the confidence of businesses in Canberra,” Mr Wall says.
“Some major concerns are that there are too many costs imposed on businesses operating in the ACT and there is not enough being done to create and foster job growth.
“This sentiment is in line with the feedback I get when speaking with local businesses.”