Despite rising business and consumer sentiment, the worst is still not over and we have a long way to recovery, says a leading business group.
The Australian Chamber of Commerce and Industry’s (ACCI) latest small business survey has revealed that things are on the way up for small business, with sales revenues, profits and investments all enjoying modest rises. However the level of small businesses expectations for economic performance – 36.9 – was well below the 50 point mark which indicates recovery would happen within a year.
ACCI acting chief executive Greg Evans said the results indicate a “slight improvement in general economic conditions but generally things are very weak.”
Evans said that despite business confidence and consumer sentiment improving, we are yet to see that translate into “actual small business conditions on the ground.”
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