Trailer Magazine

Business confidence at three-year high

  • Posted on Tuesday 13th, February 2018.

Software company, MYOB, surveyed more than 600,000 small and medium-sized enterprises (SMEs) in Australia, reporting strong investment in the transport, postal and warehousing sector.

According to MYOB, business owners are feeling more optimistic, with almost three in ten Australian business operators expecting the economy to improve over the next 12 months (29 per cent in 2018 compared to 26 per cent in 2017 and 23 per cent in 2016). Also, 40 per cent of business operators surveyed reported more sales in the pipeline for the next three months.

Business confidence is reportedly at its highest among financial and insurance (52 per cent) and transport, postal and warehousing (37 per cent) SME operators.

MYOB said in a statement that companies in the transport, postal and warehousing sector are more likely to increase focus and investment in the next 12 months across customer acquisition (29 per cent) and customer retention (26 per cent) strategies.
Investment in IT systems (4 per cent) and the number of full-time employees (0 per cent) will not be critical areas of investment in the transport, postal and warehousing sector.

Across all sectors, MYOB said small businesses were also much more likely to be investing in online marketing (31 per cent) and increasing the number of part time or casual employees (25 per cent).

“With small business owner confidence at a three-year high, across the board small businesses are investing in future-focused strategies to secure long-term growth,” said MYOB Head of Customer Marketing, Jane Betschel. “Our BusinessMonitor survey data indicates increased investment in customer acquisition, online marketing and a greater variety of products or services. We also see a continued shift away from full-time to part-time or flexible employment, with operators investing in internal resources such as IT and communications infrastructure and higher pay for skilled workers.”

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