Business confidence among SMEs is now sitting at its highest level since March 2010, following an eight point rise to +46 on a net basis, according to the latest Sensis Business Index * survey. Businesses closed out 2016 on a high, with confidence up seven points for the year and expectations that 2017 will be even stronger. The capital expenditure result was up nine points this year and now sits in positive territory, with businesses also reporting easier access to finance this quarter. Confidence among SMEs in the capital cities rose 14 points to +49, while regional confidence fell two points to +41.
Key Takeaways:
- Perceptions of the current state of the economy have moved into positive territory
- “The number of businesses worried about excessive bureaucracy and red tape was up this survey and these are the key issues the Government needs to address if it is to win over more business owners this year
- These conditions should help foster growth in jobs and the economy in 2017
“Confidence among SMEs in the capital cities rose 14 points to +49, while regional confidence fell two points to +41. The 16 point reversal means metropolitan SMEs are now more confident.”
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