Weak trading fails to rattle Victorian businesses
March 06, 2012
Tough trading conditions over the last three months have not weakened the resolve of Victorian small and medium businesses, according to the recent Sensis® Business Index.
Report author Ms Christena Singh said despite the challenging conditions Victorian small businesses were the most bullish about their business prospects.
“Sales, profitability and capital expenditure all fell further into negative territory during the quarter in Victoria.
“Despite this, business confidence improved in Victoria during the quarter, albeit only marginally, and it remains well below the levels enjoyed in the state 12 months ago,” Ms Singh explained.
Overall, two in 10 Victorian businesses are worried about their business prospects for the year ahead, with six in 10 confident and the remainder neutral.
Having an established business and plenty of work coming up are the main reasons behind the optimism, while people not spending is the key reason for Victorian small businesses to be worried about their prospects over the next 12 months.
Ms Singh said most Victorian small businesses were planning proactive initiatives to stimulate demand over the next 12 months.
Forty-seven per cent of Victorian small businesses said they were planning to increase their digital presence during 2012, while 47 per cent are planning to introduce new products and services and 42 per cent are expecting to develop a business plan.
Small business support for the Victorian Government dropped strongly during the quarter. However, it sits well above average in the popularity stakes and is considerably more popular among small businesses than the Queensland, South Australian and Tasmanian governments.
Key Victorian Indicators for March 2012 Sensis® Business Index:
|
Indicator
|
March 2012
|
December 2011
|
|
Business Confidence
|
+38%
|
+37%
|
|
Sales
|
-9%
|
-1%
|
|
Employment
|
-1%
|
+1%
|
|
Wages and Salaries
|
+8%
|
+10%
|
|
Prices
|
+15%
|
+17%
|
|
Profitability
|
-15%
|
-3%
|
|
Capital expenditure
|
-24%
|
-9%
|
|
Approval of Victorian Government
|
-6%
|
-1%
|
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