SME's gallant

A NAB survey shows conditions for SMEs in Queensland are the worst in the country, dropping from -12 to -14 points this quarter, with the national average at -10.

Queensland general manager of nabbusiness Julian Pearce, says from record lows last quarter, Queensland SMEs have recorded a substantial jump in the 12 month profit outlook, rising 32 index points to 10 index points. However, in the June quarter SMEs have reported negative profit growth, falling three index points to -20. But there are some positives.

“Although Queensland has fallen behind other states, the positive outcome is that SMEs are looking ahead and predicting a stronger year ahead in terms of profitability, with businesses in Queensland increasingly optimistic about their prospects. This suggests that increased consumer confidence is having a knock-on effect for SMEs,” says Pearce.

Across all sized SMEs in Queensland, ‘small sized’ businesses (annual sales between $2-3 million) were the best performing segment, increasing by 8 index points to -1, while larger SMEs (annual sales between $5-10 million) were the weakest, declining 8 points to -25.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

How communications technology can raise the bar on customer service, employee experience
Partner Content
From capturing feedback early to providing messages with a higher rate of cut-through, ...
Advertisement

Related Stories

Hard seltzer start-up enters non-alcoholic market with launch of Fellr Free

Hard seltzer start-up enters non-alcoholic market with launch of Fellr Free

Alcoholic pre-mix brand Fellr is expanding its core range of produc...

The co-founder question: Do you need one, and how do you find someone?

The co-founder question: Do you need one, and how do you find someone?

I’ve played beach volleyball for Australia for the last decad...

EML Payments awarded $320m government contract to help stimulate the Spanish arts sector

EML Payments awarded $320m government contract to help stimulate the Spanish arts sector

Global payment solutions business EML Payments (ASX: EML) will play...

Microbio goes public as med-tech tackles condition that causes 11 million deaths per year

Microbio goes public as med-tech tackles condition that causes 11 million deaths per year

Brisbane-based medical technology company Microbio has stepped...