Australian small business sentiment worsens amid recession fears
SME financial indicators all decreased in November, and confidence in local and global economic conditions remained very low.
SME financial indicators all decreased in November, and confidence in local and global economic conditions remained very low.
Falling revenue is causing small business economic confidence to dwindle, according to new research. Despite these sales falls, a fifth of SMBs say they’re feeling optimistic that conditions will begin to improve over the next 12 months.
Ongoing economic uncertainty caused business confidence to fall nearly ten points in February, to 108.9, after six consecutive months of rises to January 2012.
Business expectations have slid this quarter, as interest rate worries and ongoing pressure from the strong Australian dollar weighs on local SMBs.
Despite global financial volatility, local businesses are feeling optimistic as they look towards implementing more efficient cost-cutting measures.
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