A challenging quarter saw SMB confidence decrease, however key indicator expectations for this quarter remain in positive territory. The Federal Budget has helped improve the standing of the Turnbull Government among SMBs.
The key findings of the Sensis Business Index for June Quarter 2017 are:
- SMB confidence fell five points to a net balance of +39. This is still among the highest balances observed in the past five years.
- All states lost confidence except WA, which increased by 11 points to +32. Regional areas also increased in confidence, by seven points to +47. The highest confidence level was again recorded in the ACT, despite dropping 12 points to +52. Above average confidence was recorded in NSW (down five points to +46), Tasmania (down one point to +42) and Victoria (down nine points to +40). The NT (down nine points to +9) displayed the equal lowest confidence that we have recorded in the Territory, with SA also well under the national average (down four points to +26). The net balance in Queensland was nine points lower this quarter at +35.
- The overall assessment of the economy remains positive. More SMBs believe it is growing (20%) than slowing (19%). The net balance of +1 is one point lower than last survey, which is a good result when taken in context. Prior to December 2016 the score had been negative since 2013, with -22 recorded in March last year.
- Looking ahead 12 months, SMBs again have faith in the economy with the net balance at +9. This is one point lower than last survey but compares with -3 one year ago.
To read the full media release, click here.