Confidence declines among Australian businesses

There’s been no shortage of activity in business confidence over recent months, and the latest figures suggest August was no exception. Releasing its Business Confidence Survey for the month, Roy Morgan Research revealed sentiment was down 8.6 per cent from July levels.

Analysts at the group have suggested the situation may not improve much during September either, which could lead some business owners to reassess their situation. Whether they choose to establish trade agreements or consider personal property securities, the services of an experienc

ed commercial lawyer can prove invaluable.

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Norman Morris, industry communications director at Roy Morgan, explained that volatility in the global financial markets is likely to have weighed heavily on business owners’ minds.

“Despite recent government tax incentives for micro and small businesses to invest, it is concerning to see that both these segments have shown a major loss of confidence in August and remain well below the confidence of medium and large businesses,” he commented.

NAB’s monthly business survey for August pointed to more positive conditions, especially in industries not related to the mining sector. Its conditions index posted a five-point rise over the course of the month, although there was a slight decline in confidence.

The bank also acknowledged the impact of activity in the global stock market, which had a particularly marked effect on the majority of sectors. The retail industry witnessed the greatest rise in business conditions (up 13 points), although confidence levels were down. Manufacturing was the only sector to have registered a fall in conditions over the course of the month.

No matter which industry your business operates in, it pays to have a reputable lawyer on your side. McCarthy Durie Lawyers has years of experience in commercial law and could be just what your company needs to ensure a more positive future.