Two quarters ago SMB confidence reached its highest level since March 2011 and it is now even higher, recording the best result in six years. This is despite a challenging quarter for many SMBs. However, there is improved positivity regarding the economy and year ahead expectations are fairly positive.
The key findings of the Sensis Business Index for December 2016 are:
- There was an 8 point rise in SMB confidence last quarter to net +46 (61% confident - 15% worried). This is the best result recorded in 6½ years (since March 2010).
- Confidence rose everywhere except for in Tasmania .
- NSW is again the most confident, up 1 point to +54, while the Northern Territory is again the least confident, despite a 7 point rise to +16.
- The only fall was in Tasmania, down 14 points and dropping from second to fifth place. The biggest ride was in Victoria, up 21 points to +52 and now in second place, not far behind NSW.
- The leading factors generating confidence were being an established, solid business, and specific business strengths. Those who were worried cited decreasing sales and an unfavourable business, economic or industrial environment.