Business outlook more optimistic

USQ Fraser Coast Business Faculty and Survey Manager Graham Young said business optimism was pleasing

Fraser Coast business owners are slightly more optimistic about the future than they were six months ago, a survey has found.

The second USQ Business Barometer indicates a slightly more optimistic view of their overall profitability for the coming 12 months. There is also a small increase in the intention of business owners to hire more full-time staff, or to keep on those who are currently employed.

Head of the USQ Fraser Coast Business Faculty and survey manager Graham Young said it was pleasing to see an improvement in optimism.

'Whilst not dramatic compared to the June 2010 survey, there was an improvement of eight percent in business owners’ beliefs that their profitability will remain the same or increase, and that they intend to hold on to existing staff or hire additional staff,' Mr Young said.

'Although the majority believe they will need to work harder in their businesses over the next 12 months, the effort is seen as having beneficial outcomes.'

Sixty-three percent of respondents to the survey believe that they will need to put even more time into managing their business.

Sixty percent said they believed local businesses supported the local business community wherever possible, and 100 percent of them said they supported local businesses where possible.

Twenty-six percent of them said the Fraser Coast Regional Council supported local business by using local services where possible.

The majority do not believe that the region gets its fair share of Federal or State Government funding.

They believe that a link to Bundaberg via a bridge over the Burrum River would be beneficial to the region.

There was a similarly positive view of a link directly from the highway to Hervey Bay, which by-passed Maryborough.

However, the benefits of the Federal Government’s National Broadband Network (NBN) were split almost evenly between those who saw no benefit for their business, and those who did see a benefit.

Mr Young said this outcome may have reflected the fact that 64 percent of business owners report that less than 25 percent of their sales revenue comes from their website presence.

USQ will release further results once more detailed analysis has been completed.

Contact Details:
Katrina Corcoran, USQ Media, +61 7 4194 3167