Today’s ACCI Small Business Survey confirms that small business conditions and expectations continue to fall, continuing the trend of the past year.
Profit growth, sales revenue and selling prices were all in decline, as was investment in buildings, structures and equipment.
Overall, small business conditions fell to 42.3 over the June quarter – to now be 5.5 points below the five-year average of 47.8.
As the report itself states, “All the actual and expectation indicators for small business have fallen below their five year averages over the quarter.”
Furthermore, the divergence in business conditions experienced by small and large businesses continues to widen.
This confirms the findings of the recent Dun & Bradstreet National Business Expectations Survey, which showed business expectations fell to below their ten-year averages.
“These results illustrate that small business is hurting, yet the Labor government has no answers – only the threat of a carbon tax that will further drive up small business costs, ” said Senator Scott Ryan, Shadow Parliamentary Secretary for Small Business and Fair Competition.
“A government that understands the critical nature of small businesses and small businesspeople in the economy and our communities would not threaten further tax increases and business imposts.”
“Small businesspeople expect Minister Sherry to outline exactly what he is doing inside the Labor Government to fight Labor’s anti-small business agenda illustrated by the carbon tax, removal of the entrepreneurs’ tax offset and increase in the cost of car transport.”