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.”
 

Get our daily business news

Sign up to our free email news updates.

Please tick to verify that you are not a robot

 
ERP: Your ticket to better business visibility, control and efficiency
Partner Content
When it’s time to evolve and mature as a business, the process of choosing the ri...
Fusion5
Advertisement

Related Stories

Homes by CMA founder Chris Baptista builds legacy as Brisbane Young Entrepreneur of the Year

Homes by CMA founder Chris Baptista builds legacy as Brisbane Young Entrepreneur of the Year

As numerous major construction companies buckle under the weig...

Costa board accepts $1.4b takeover offer from Paine Schwartz, Driscoll’s and BCI

Costa board accepts $1.4b takeover offer from Paine Schwartz, Driscoll’s and BCI

One of Australia’s largest fruit and vegetable producers, Cos...

Young Entrepreneur Awards to celebrate Brisbane's rising stars tonight

Young Entrepreneur Awards to celebrate Brisbane's rising stars tonight

There is a tangible buzz in the Queensland capital at the moment an...

Australia's top home builders revealed

Australia's top home builders revealed

Melbourne-based Metricon has kept its status as Australia's lar...