The results of the latest Sunshine Coast Business Confidence Survey show a vast improvement in local business confidence when compared to results six months ago.
Now in its fifth year the Coast’s own business confidence survey, supported by Sunshine Coast Council, regularly attracts hundreds of business respondents to its biannual survey. As a consequence the survey has become the premier benchmark for business conditions across the Coast.
Sunshine Coast Mayor Mark Jamieson said the survey results are a positive spark of optimism reflecting some of the national data coming through in recent times.
“The strongest sign of local business confidence in recent times was demonstrated in the forecasts over the coming six months, with 61% of Sunshine Coast businesses saying they expect trading conditions to be either ‘somewhat or much stronger,’ said the Mayor.
“However it has been a tough couple of years, with many businesses hurting for some time, so let’s all get behind this recovery to help it truly take off.”
A closer look at the survey data by market researchers from Boardroom Business revealed that local businesses expect business performance to improve on the back of stronger profitability, and to a lesser extent increased capital expenditure.
“Survey participants indicated the largest constraints to growth to still be domestic and global economic performance, rising overheads and intense competition causing further pressure on margins,” said Steve Lawrence from Boardroom Business.
“Each time the survey is conducted it tackles one of the big issues facing the business community, with the latest survey focusing on innovation.
“Business managers across the region appear to understand the importance of innovation with 67% of participants deeming it either a high or very high priority.
“More than 57% of participants who introduced new technologies, larger product offerings, innovative processes and marketing strategies indicated that their implementation of these innovations was a success due to improved business performance over the past six months.
For more information and to download a copy of the survey results go to www.boardroombusiness.com.au