Positive vibes for businesses

A NEW survey has found businessconfidence surged in the Murray-Riverina in the final quarter of 2015 as the number of businesses reporting increased sales revenue grew significantly.
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The NSW Business Chamber’s latestBusiness Conditions Surveyhad 160 businesses take part, according to Murray-Riverina regional manager Ben Foley.

“(This) showed regional business perceptions of the state’s economic performance at its highest level since July 2009 amid improvements in profit and particularly sales revenue,” he said.

“Consumer confidence appears to be improving with 48 per centof Murray-Riverina businesses reporting a positive change in customer demand in the past three months, up from 26 per centin September.

“Importantly, the survey suggeststhe growth in business and consumer confidence is translating into jobs growth and increased capital spending.

“Nineteen per centof Murray-Riverina businesses reported they increased staff numbers in the final quarter of 2015, up from 16 per centin September, while 22 per centof survey respondents said they expected to hire additional staff in coming months.”

Mr Foley said 28 per cent of businesses also increasedcapital spending in December, up from 25 per centin the previous quarter, while one in three businesses expect to increase capital spending in the March quarter.

“It’s great to see our regional business community being very optimistic about the year ahead,” Mr Foley said.

“The survey showed a sharp uptick in the profits and sales revenue indices for the December quarter, with 36 per centof businesses reporting an increase in sales revenue and 32 per centreporting an increase in profits.”

Many businesses also predicted a bumper start to 2016, with 42 per centof respondents expecting sales revenue to increase, though this is slightly lower than the state-wide average of 45 per cent.

Mr Foley said one of the key focus areas for Murray-Riverina businesses this year would be to address inefficiencies and improving productivity.

“Overall the news for business in the Murray-Riverina is positive, but it cannot be assumed that the good times will last forever,” Mr Foley said.

Murray-Riverina regional manager Ben Foley This story Administrator ready to work first appeared on Nanjing Night Net.

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