Mixed business reactions as Christmas approaches
The end of 2014 is just a matter of weeks away and it seems that businesses up and down the country have mixed feelings over what the festive period might have in store.
The latest ACCI Business Expectations Survey shows there are still concerns about how the Australian economy will perform both in the short and long term.
Of the companies polled during the September quarter, 2.8 per cent believe the domestic economy will become much weaker, while 19.6 per cent believe it will somewhat deteriorate.
Results weren’t all bad, however, as the General Business Conditions index improved for the seventh quarter in a row, rising from 47.9 points to 48.6.
CEO of the Australian Chamber of Commerce and Industry (ACCI) explained how some efforts are being made to lessen the burden on businesses, such as by reducing the amount of regulations they face.
“The business community will definitely feel more confident to hire and invest if they are not weighed down by red tape and we will certainly continue to work with the government on ideas and solutions to reduce the cost of doing business in Australia,” she commented.
One issue the ACCI is currently trying to tackle is the impact of fuel excise on companies, which it believes is preventing some businesses from being able to grow.
It is an extra cost that businesses could do without – and estimates suggest only around a third of the duty obtained by the government has been spent on improving roads.
Trading conditions are starting to return to normal for businesses, the ACCI stressed, but there is still plenty of room for improvement when it comes to investment intentions and profitability.
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