Positive signs for mini SMEs

JUST one in five Queensland SMEs are reporting good or very good business conditions, but the National Australia Bank’s survey shows positive signs for mid and small-sized SMEs last quarter.

The survey found that business conditions index for mid-sized SMEs that had annual turnovers between $3 million to $5 million jumped by 14 index points to 0, making them the best performers.

Small-sized SMEs with turnovers between $2 million and $3 million were the second best performers jumping 22 points to -9 for the business conditions index.

But the state’s index as a whole was dragged down by large SMEs with revenues between $5 million and $10 million, with its index values dropping by 14 points to a ‘dismal’ -17.

The state’s index across the size categories fell by 1 index point to -12.

NAB Queensland business banking general manager Julian Pearce, has called for the support of the state’s SMEs to help them get through the downturn.

"It is time for all Queenslanders to get behind their local small businesses and show their support. Our survey reveals decreased business conditions and poor business confidence, which means it’s more important than ever for SMEs to get the support of the general public to help them through the challenging environment they are currently operating in," says Pearce.

"With business conditions and confidence being dampened by weakening customer demand, Queenslanders should think carefully about where their stimulus money goes, and realise that they need to support their local small business."