A new survey conducted by the Australian Chamber of Commerce and Industry has found that small businesses are struggling in the current climate, with small business conditions dropping to their lowest level in 13 years.
The small business survey for the March quarter fell 33.1 points, it’s lowest level since December 1996.
Specific indicators of small business conditions included expected economic performance, growth in sales and profitability, investment and employment growth. All sectors suffered a drop.
The survey of 2,821 respondents also found that business conditions are expected to remain ”significantly negative” during the June quarter.
However, it’s not all bad news, says the chamber’s director of industry policy and economics Greg Evans.
Small businesses are remaining positive, and there has been a “slight improvement” in expectations, says Evans.
Expectations in overall business conditions, sales and profitability are expected to rise over the coming months.
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