Powered by MOMENTUM MEDIA
subscribe to our newsletter

Business confidence bounces back

Business confidence has been boosted as a result of the federal Budget but remains fragile, according to Roy Morgan Research.

Roy Morgan’s latest business confidence report, based on a survey of 1,376 business owners, found confidence has increased by 9.1 per cent from April to 114.7 in May.

This marks the highest level since January 2015 (114.9), however it remains below the five-year average of 117.3 and the peak of 136.3 in October 2013.

The level of positive outlook has increased across the majority of business owners in May, with 60 per cent of participants stating they expect good economic conditions in Australia over the next 12 months, compared to 51 per cent in April.

The data also revealed that 63 per cent of participants had a positive, long-term outlook for the Australian economy over the next five years, compared to 56 per cent in April.

Advertisement
Advertisement

PROMOTED CONTENT


“The increase in business confidence in May was most likely the result of a generally positive immediate media reaction to the federal Budget and its focus on small business,” according to Roy Morgan industry communications director Norman Morris said.

“However, the tax incentive in the Budget has only had a minor impact on the level of businesses considering that the next 12 months would be a good time to invest in growing their business.”

Currently, 57 per cent think it is a good time to invest in growth, up from 53 per cent in April, Mr Morris noted.

Business confidence bounces back
mortgagebusiness

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

Latest News

True Savings, a new online brokerage headed by former CBA executive Pete Steel, has entered the Australian mortgage market. ...

Pre-registrations have opened for Citi’s upcoming buy now, pay later offering, Spot., which will launch in October. ...

New Zealand’s central bank is primed to further tighten mortgage lending standards, following concerns with a rise in high-LVR and high-DT...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.