Business Westpac Local Business Sentiment Survey.
Business remains resilient
Despite a fall in confidence about future performance, a survey of 2,000 Australian small and medium size business owners suggests they have maintained a resilient outlook in the 6 months from March to September 2011. This is detailed in the December 2011 Local Business Sentiment Survey report.
- Average business sentiment has declined from 60/100 in March 2011 to 56/100 in September however happiness levels remain the same
- 57% of Australian business owners are experiencing 'good' or 'very good' performance
- Positive sentiment is highest in the mining and education industries while agriculture, forestry and fisheries have the lowest
- Compared to 6 months ago, the number of business owners finding it 'difficult' or 'much more difficult' to run a business has increased from 37% to 41%
- The number of business owners struggling to manage their cash flow has risen from 32% to 48%; not surprising given that 34% don't have a cash flow budget.
About the survey
Commissioned by Westpac, this second Local Business Sentiment Survey was conducted by AMR, an independent research company. It sets out to provide an insight into business owners’ sentiment based on their perceptions of current and future business performance.
The bi-annual Local Business Sentiment Survey report began in May 2011 (featuring results from the March survey) followed by this December report (featuring results from the September survey). The first annual comparison of sentiment will be released in May 2012 as part of National Business Month.
This report shares local business owners’ experiences of running a business, and the strategies they have used to maximise performance.