Australian business confidence has returned to the high levels enjoyed prior to the economic downturn, according to the Sensis® Business Index released today.
Report author Christena Singh said there has been another quarter of growth in business confidence, albeit at a slower rate than the previous two quarters.
“Following two very strong quarters of growth, business confidence has risen more moderately this quarter…business confidence is now at the highest level in Australia since August 2007,” she said.
Business confidence has improved in all states and territories, with the exception of the Australian Capital Territory which recorded a fall and South Australia, where it remains stable. Across the nation, Northern Territory has the strongest business confidence while ACT has the lowest.
Singh said the results prove that business perceptions and their actual performance are now more in sync.
However, Singh added that the Index shows support for the Federal Government waned during the quarter with many small businesses believing it does not offer incentives to small business, taxation is too high, that it is only concerned with big business, and there is too much bureaucracy.