Mixed business confidence throughout Australia
(29 April 2013 – Australia) A new source revealed a further increase in business confidence, increasing from 9.3 to 13 in the past quarter.
According to the source, export oriented industries including Mining, Agriculture and Health & Education have experienced the largest increases in confidence.
Transport and Logistics remains the most positive industry, while the Retail sector continues to improve.
Businesses in the higher end of the mid-market business segment have risen in confidence however companies making between A$10 million to A$19 million have become more pessimistic as concerns over potential cost increases weigh on their minds.
The source further added its results highlight a cautious confidence within the Australian mid-market business segment, as companies look to maximise growth in an environment that still provides many business challenges.
"These latest results for the mid-market are a promising sign for 2013. However, despite the positive findings, we need to remember that there are still plenty within the mid-market doing it tough," the source commented.
Despite rising confidence in the previous research, the mid-market business segment largely remained focussed on cost-saving initiatives while minimising growth plans.
In the current research however, this trend has reversed, with the majority of the mid-market that is experiencing confidence looking to take advantage of the market climate by making greater investments in growth initiatives.
Confidence continues to vary greatly from state-to-state.
"While confidence has risen overall, it is interesting to note that business confidence across Queensland, South Australia and the Northern Territory, as well as Victoria and Tasmania, has actually fallen, proving that the mid-market still faces challenges."
Subscribe