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TAS business confidence slides

June 05, 2012

Tasmanian business confidence has continued to fall during the quarter, according to the June Sensis® Business Index released today.

Report author Ms Christena Singh said Tasmanian small businesses experienced weaker trading conditions during the quarter and expected conditions to deteriorate further in the coming quarter.

The sales, profitability, capital expenditure and export indicators weakened in Tasmania during the quarter to levels well below the national average, while employment and wages stabilised.

Looking ahead, Tasmanian small businesses are expecting a further weakening across all indicators. “Tasmanian small businesses have the lowest expectations for sales, employment, wages, profitability and capital expenditure of any state or territory,” Ms Singh noted.

The report shows five in 10 Tasmanian small businesses are currently confident about their business prospects for the next 12 months, while three in 10 are worried, bringing business confidence in Tasmania to a level well below the national average. Small businesses in Hobart are considerably more confident than those in regional Tasmania.

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

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

“Taxation and workplace agreements are the most common area Tasmanian small businesses said they would like to see reformed, with superannuation, pay rates, building regulations and industrial relations the next nominated areas for reform,” Ms Singh concluded.

 Key Tasmanian indicators for June 2012 Sensis® Business Index:

 

Indicator

March 2012

June 2012

 

Business Confidence

+26%

+19%

Sales

-4%

-13%

Employment

-2%

-2%

Wages and Salaries

+9%

+9%

Prices

+12%

+9%

Profitability

-6%

-20%

Capital expenditure

-12%

-14%

Proportion exporting

+7%

+6%

Export value

+28%

-1%

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

 

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