The March Quarter Sensis Business Index, released Tuesday 7 May 2019, reveals the Tasmanian Government remains the most popular in the country among small and medium businesses (SMB).
The report, which measures SMB activity, expectations and confidence over a three-month period, has found that despite a fall of three points to a net balance of +26, the Tasmanian Government maintains the most popular position among SMBs, sitting seven points above the second highest score found in South Australia.
Speaking to the results, Sensis Chief Executive Officer John Allan said, “Looking at the results of the March Quarter (2019) Sensis Business Index, it’s clear Tassie businesses feel supported by the Government, with respondents referencing this as one of the key factors behind a positive response, alongside subsidies and grants.”
Business confidence also remained high across Tasmania, with the net balance unchanged at +43 and clearly above the national average.
“The report also reveals Tassie’s SMBs are the third most confident in the country behind South Australia and the Australian Capital Territory. The net balance of +43 remains a strong 10 points ahead of the nation’s average.
“Key performance indicator results were also better than average with balances recorded for sales, wages and prices the highest in Australia,” said Mr Allan.
Last quarter saw improved, positive balances for sales, employment and wages, while the balances for prices and profitability remain unchanged but above average.
Confidence in Hobart was down 14 points to +35 to match the national metropolitan average. Confidence in regional Tasmania rose 10 points to +50, exceeding the nation’s average by 19 points.
Referring to the economy, Tasmanian businesses were the most positive in the country. 27% believe the economy is growing versus 12% who think it is slowing, for a net balance of +15 (down 2 points), 13 points above the next highest score and 19 points above the national average.
“It’s great to see Tasmanian businesses have had such a strong quarter and we hope to see this continue throughout the next three months,” Mr Allan concluded.