Small Business Frustration Rising as Confidence Remains Subdued

Small Business Frustration Rising as Confidence Remains Subdued

The results of the Suncorp CCIQ Pulse Survey of Business Conditions for the June Quarter show that business conditions in Queensland remain subdued due to soft operating conditions in the state. 

Data analysed by CCIQ showed that profitability declined again across the state. Rising labour and operating costs continue to disgruntle the small business sector. 

Respondent data also showed:

·        The wage expenses rose steeply over the June quarter to the highest level on record. 

·        Small business investment is flat over the quarter and is forecast to remain at similar levels.

·        The end of the Federal Election resulted in a pick-up in confidence for the national economy. 

·        Queensland businesses are optimistic that the Federal Government’s tax cuts together with the Reserve Bank’s cuts to interest rates will help consumers spend more.

·        ‘Stifling’ levels of red and green tape, an enlarged public service and a growing state debt burden were core concerns.

·        The state government’s budget position has impeded the construction of critical infrastructure

·        The state government’s public spending needs to help prime business.

Many businesses think that the state government must work harder to foster private-sector jobs instead of creating public-sector them. The private sector is discouraged from growing due to an increasingly complex commercial environment.

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