Business confidence in WA now well above the national average
September 03, 2012
There has been a significant drop in negative sentiment, with a growing proportion of small and medium businesses reporting feeling established and experience in their business operations as the main reason for their positive outlook.
Confidence rose despite WA businesses reporting only slight increases in sales, prices and capital expenditure during the quarter, with falls recorded in employment and profitability.
Report author, Christena Singh, said that WA business confidence levels were well above the national average, with more than 5 in 10 businesses citing a positive outlook for the year ahead.
“Overall 51 per cent of Western Australian businesses say they are positive about prospects for their business over the next 12 months, with only 24 per cent reporting a negative outlook,” she said.
“This is a strong result, and while some businesses continue to face tough conditions there are signs that business expects things to improve in Western Australia over the next quarter.”
Businesses in WA are expecting significant increases in sales in the next quarter along with a big improvement in profitability, however they are expecting to increase their prices and reduce capital expenditure to achieve this.
Western Australian businesses who say they are worried about their prospects cite people not spending, a decrease in business and increasing utilities costs as their key concerns.
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