Queensland leads the nation in business confidence

Organisations across Queensland are confident about the future and current business conditions, according to the results of a new poll.

National Australia Bank’s (NAB) monthly Business Survey for July showed leaders are more optimistic in Queensland than any other mainland state. NAB’s business confidence index climbed one point to +9 in trend terms.

State Treasurer Curtis Pitt said businesses are clearly getting behind the Queensland government’s economic agenda. Furthermore, the data echoes similar findings from a Westpac Group CCIQ Survey of Business Conditions last month, which also showed an increase in confidence.

“According to the CCIQ, business sentiment in Queensland has improved on the back of a balanced State Budget and improving business conditions,” Mr Pitt stated.

“Along with last month’s fall in the trend unemployment rate from 6.4 per cent to 6.3 per cent, these are clear signs of economic uplift in Queensland.”

Businesses may consider now a good time to concentrate on growth, which could require access to lending. An experienced commercial law firm can provide effective advice on corporate and business finance issues, as well as a range of other legal areas. 

Opportunities also appear to be opening up for employees, as more organisations look to attract top talent in Queensland. Mr Pitt said the state government is committed to jobs growth and has already added 20,400 positions since coming to office earlier this year.

“We’re pro-growth and pro-jobs and I want to send out that message to business loud and clear.”

Sectors where confidence is on the rise in Australia include transport, finance, business, property and retail. However, mining investment has slipped and public spending is down. Nevertheless, Queensland has seen merchandise exports increase, with LNG producers providing a significant boost to the state’s coffers.

If your business is currently considering growth opportunities, contact a commercial lawyer to ensure your planning processes run as smoothly as possible.