Small Business Confidence in Australia is at a Record High
Small and medium business (SMB) confidence is at its highest level since March 2010 thanks to growing optimism in the local economy, according to the latest Sensis Business Index (SBI) survey.
The Index, which reflects the views of 1,000 small and medium businesses from across Australia, revealed that more than four times as many SMBs (61%) are now feeling confident, as those who are worried (15%).
“Just as the stock markets shrugged off global uncertainty to finish 2016 on a high, it was also the case for Australia’s small and medium businesses,” Sensis CEO John Allan said in a statement. “Perceptions of the economy are now in positive territory for both the short and long term projections and this points to a strong year ahead.”
Confidence among SMBs in the capital cities rose 14 points to +49, while regional confidence fell two points to +41. The 16 point reversal means metropolitan SMBs are now more confident.
When breaking business confidence out by state and territory, Tasmania was the only region that saw a drop:
NSW: 54 (up 1 point)
- VIC: 52 (up 21 points)
- ACT: 46 (up 11 points)
- QLD: 43 (up 4 points)
- TAS: 38 (down 14 points)
- SA: 32 (up 1 point)
- WA: 21 (up 11 points)
- NT: 16 (up 7 points)