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NT businesses Move Up

June 05, 2012

Northern Territory small businesses are experiencing some of the strongest trading conditions in over 12 months, according to the June Sensis® Business Index released today.

Report author Ms Christena Singh said business confidence and most key performance indicators had risen in the Northern Territory during the quarter.

“The sales indicator rose to the highest level in the Northern Territory in over a year and is now the nation’s strongest.

“Overall employment by Northern Territory small businesses is also positive for the first time since this time last year,” Ms Singh said.

The only negative news comes from weak capital expenditure and export levels. Northern Territory bucked the national trend, recording an overall decrease in the proportion of small businesses exporting over the quarter and a negative export value indicator. Capital expenditure also fell in the Northern Territory at a time when the national average rose strongly.

Looking ahead, Northern Territory small businesses are expecting further improvements in most indicators for the coming quarter and have the nation’s highest expectations for sales, profitability and capital expenditure.

Northern Territory is one of only two state or territories to record increases in business confidence for the quarter, with confidence now above the national average.

Overall, six in 10 Northern Territory small businesses are confident about their business prospects for the next 12 months, while three in 10 are worried.

Good customer relations and an increasing population are the key reasons for small businesses being confident.

 A decline in demand for their products and impediments to growth are the main reasons Northern Territory small businesses are worried about their business prospects.

 Following the recent Council of Australian Governments (COAG) meeting, the June Sensis® Business Index also asked Northern Territory small businesses for their opinions about regulatory reform.

As part of the survey, small businesses were able to indicate any area of Federal Government regulation they would like to see reformed.

“Overwhelmingly, taxation is the most common area Northern Territory small businesses said they would like to see reformed, with workplace relations, OHS (the highest level in the nation) and company tax the next nominated areas for reform.

Key NT indicators for June 2012 Sensis® Business Index:

+ Export value = overall net % of exporting businesses that experienced an increase/decrease in the value of exports during the quarter.