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Triple whack for NT businesses

March 06, 2012

The combination of increased competition, decreased business and a high exchange rate has many Northern Territory small and medium businesses rattled, according to latest Sensis® Business Index.

Report author Ms Christena Singh said business confidence had continued to fall in the Northern Territory during the quarter.

“Business confidence in the Northern Territory is now less than a third of the level it was this time last year and is also sitting at the third lowest level across the nation,” Ms Singh explained.

Overall, three in 10 are Northern Territory small businesses are worried about their business prospects for the year ahead, with five in 10 confident and the remainder neutral.

For those Northern Territory businesses that are confident, it is because of positive conditions in their local area and because the population is increasing.

The Sensis® Business Index shows profitability and sales declined in the Northern Territory during the quarter, although employment and capital expenditure improved.

Northern Territory small businesses expect mixed conditions for the coming quarter, with profitability and capital expenditure predicted to fall, but employment and wages to increase.

In line with the weaker trading conditions, small business support for the Northern Territory Government waned during the quarter.

“While support has fallen during the quarter, the Northern Territory Government is only one of three state and territory governments to receive a positive rating this quarter,” she noted.

The key reasons Northern Territory small businesses said they disapproved of the state government’s policies were perceptions about:

  • Too much bureaucracy
  • Government is too centralised
  • Don’t understand small business.

The key reasons Northern Territory small businesses said they support the state government’s policies were perceptions about:

  • Creating more jobs/tenders
  • They encourage growth
  • Good policies made to date.

Key NT Indicators for March 2012 Sensis® Business Index:

Indicator

March 2012

December 2011 

Business Confidence

+17%

+18%

Sales

-16%

-13%

Employment

-8%

-13%

Wages and Salaries

-3%

-3%

Prices

+11%

+10%

Profitability

-13%

-6%

Capital expenditure

-5%

-9%

Approval of NT Government

+2%

+8%

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Information & Downloads

Sensis Business Index, March 2012

Contact:

Damian Glass
Sensis Corporate Affairs
0459 818 553