SMBs optimistic despite challenges: Report
Confidence is on the rise across Australia's small to medium-sized business (SMB) community, with financial services sector firms among the most optimistic.
Data from the Sensis Business Index December 2015 survey found that confidence within the financial services sector was above the national average, with many respondents predicting the year ahead will deliver solid improvements.
"Confidence in this sector lifted two points to +40, keeping above the national average," the report said.
"Specific business strengths are the key cause of confidence, while difficult business, economic or industrial conditions are the dominant issue for those lacking confidence."
Over the last quarter, the survey found that sales by five points, while profitability remained stagnant.
The survey revealed that wages in financial services sector SMBs climbed by 14 points in the December with respondents forecasting continued growth.
"This quarter, sales expectations are a little higher (+9) but not for profitability (-6)," the report said.
"Employment (+5) and prices (+3) are just positive.
"For the year ahead there is a better outlook for sales (+22), profitability (+26), wages (+19) and prices (+24). However, employment (+1) and capital expenditure (0) will be flat."
AUTHOR
Nicholas O'Donoghue
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