Small businesses are pessimistic about the state of the economy, according to the latest survey by the Australian Chamber of Commerce & Industry (ACCI).
Conditions continued to be tough in the September quarter, with small businesses experiencing
painful trading conditions.
Sales revenue, selling prices, profits, employment, overtime utilisation and investment are all shrinking.
And most expectations fell across the board.
“Small business continues to feel the brunt of poor sales and profit results and so they lack the appetite to take risks and expand,” says ACCI CEO Kate Carnell.
“Worryingly, their expectations are getting worse, and while there has been a little improvement in some aspects of the survey, most small business operators are concentrating on just keeping their heads above water.”
The dark outlook by small business is mirrored in various surveys showing consumer confidence is right down.