The latest NAB SME Survey Victoria has found that Victorian business conditions have fallen, but confidence is rising.
The NAB SME business conditions index shows Victorian business conditions dropped to -12, two points below the Australian average in the June quarter. Despite this, Victorians have an improved profit outlook for the next 12 months, up 32 points to a positive 5 index points.
Kevin Potter Victorian General Manager of nabbusiness said the results of the survey show that while the past quarter has remained tough for small to medium sized business, there is an optimistic outlook from Victorian businesses.
“This is a testimony to the resilience of SMEs in Victoria,” he added.
Around the country, SMEs in SA and WA recorded the best business conditions, closely followed by NSW which all performed better than the national average. Business confidence among SMEs, nationally, improved significantly by 15 points from -22 to -7, with the finance and insurance industry having a positive outlook for next quarter.