SMEs take a hit

 

A RECENT survey from National Australia Bank (NAB) has found Queensland’s small to medium size businesses have taken the brunt of weakening business conditions in the final quarter of 2008.
The NAB SME Survey Australia found Queensland business conditions fell from -2 to -11 index points, but larger business remained stable at -3 index points.
The national average was -4 index points.
NAB business and private banking state manager Julian Pearce says the state economy’s boost from the holiday season was cancelled out by a substantial weakening in consumer confidence and falls in demand.
“Without the demand from consumers SMEs are worrying about their cash flow, with many concerned about funding and working capital for their business,” says Pearce.
“Given the current economic situation it’s not surprising that Queensland SMEs are re-forecasting their profit outlook.”
 

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

A game changer? Aspiring to the new standard on workplace mental health
Partner Content
Work health and safety regulators have been more active in the area of mental health ri...
Aon
Advertisement

Related Stories

WA suspends planned quarantine-free travel bubble with Queensland

WA suspends planned quarantine-free travel bubble with Queensland

The proposed quarantine-free travel bubble between Queensland and W...

Start-ups ready for orbit aboard Space Machines Company’s first mission

Start-ups ready for orbit aboard Space Machines Company’s first mission

The start-up world is clamouring for its place in orbit with Austra...

"Wake-up call" for the Gold Coast as rideshare driver tests positive to COVID-19

"Wake-up call" for the Gold Coast as rideshare driver tests positive to COVID-19

An unvaccinated Gold Coast-based rideshare driver in his 30s is rep...

Retailers set for pre-Christmas spree as hospitality takes a bigger bite

Retailers set for pre-Christmas spree as hospitality takes a bigger bite

Australian retailers are heading for another big spending spree ove...