Australian small business owners have always been an entrepreneurial and inventive bunch, weathering the storm of the global financial crisis and its aftermath with a calm focus on the future. Now that things have settled down in the Australian economy, the future is bright for both small and large businesses.
Like all living things, small businesses must grow steadily to be healthy and prosperous. From the expansion of technology, for example small business management software, to the purchasing of new structures, such as a new warehouse to increase production. An increase in capacity can boost efficacy, sales and progress across the whole company.
According to Roy Morgan, the measured level of business confidence for March is just beneath the five-year average – this is a positive as it shows there has been no trending decline or loss in post global financial crisis gains. The Australian Chamber of Commerce and Industry (ACCI) is also reporting positive findings, suggesting small businesses in Australia are busily investing in manufacturing and development.
Australian small business owners weather the storm of the global financial crisis and its aftermath with a calm focus on the future.
Jump in latest statistics
There’s been an improvement in conditions for small businesses and this renewed trust in the economy is generating an increase in confidence, reports the ACCI. The organisation’s Small Business Survey for the December 2015 quarter showed the investment in buildings and structures index has increased by 2.5 per cent and the investment in plant and equipment index increased by 1.9 per cent.
This is encouraging as it shows that small business owners are taking profitable risks towards expansion and increasing capacity. Another important area of the ACCI’s report showed the sales revenue index had risen by a large 5.3 per cent from the previous five-year average.
The national survey is an aggregate of surveys across ACCI’s member associations and defines a small business as one that has 0-19 employees. This new information is important as it shows that even though small businesses have reported weaker conditions overall, when compared to all business sizes, there is still a lot of confidence and excitement for the second quarter of 2016.
How manufacturing management software can help your company
It is a common fact of our economic system that expansion is necessary for continued profits. But rapid, unsupported expansion of manufacturing capabilities can place detrimental strain upon systems. Our manufacturing management software has the flexibility needed for expansion and is suitable to a variety of industries. Get in touch with Advanced Business Software today to see how we can help your company.