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New survey paints bleak picture of investor confidence

The findings aren’t rosy – according to the July 2013 Australian Chamber of Commerce and Industry (ACCI) Survey of Investor Confidence, business conditions have continued to deteriorate.

Despite business expectations having recovered somewhat from recent lows, actual business conditions have deteriorated over the June quarter.

“It is concerning that we are yet to see the recovery in business sentiment translating into improvement in actual trading conditions since the global financial crisis. Business hiring and investment intentions are also expected to remain subdued for the remainder of 2013,” Greg Evans, Chief Economist at ACCI said today.

Evans said the manufacturing and construction industries continue to report weak performance, despite the official cash rate at its historical low level. “This highlights the challenges for the Australian economy transitioning from resources-led growth,” he said.

The survey follows a pre-election campaign launched by ACCI, which aims to boost the profile of the role small business plays in the economy.

The “Small Business. Too Big to Ignore” campaign features activities and events in metropolitan and regional Australia between now and the election.

“We are too big to be ignored, we are the backbone of the community and the economy, and we won’t be taken for granted,” president of ACCI, Richard Holyman, said at the campaign launch in April

“This is not about men in pinstripe suits telling small business what’s good for them – it is about real small business people sharing real stories and making sure politicians and governments listen to them and act,” he said, adding: “There are over 2 million hard-working small businesses in Australia that together employ more than 7 million Australians or more than 60% of the workforce.”

*The survey covered the three months to July 2013 and had 738 respondents

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Stephanie Zillman

Stephanie Zillman

Stephanie is the editor-at-large of Dynamic Business. Stephanie brings with her a passion for journalism, business, and new ideas. On her days off, you might find her reading a book on the beach.

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