Murray and Riverina based businesses are optimistic about business conditions in 2015 despite reporting a decline in individual business performance across a number of key indicators in the NSW Business Chamber’s March 2015 Business Conditions Survey.
“Our members in the Murray and Riverina regions of NSW reported significant improvements in the last quarter of 2014 however, our most recent survey shows that businesses experienced challenging operating conditions in the first three months of 2015,” said Murray-Riverina NSW Business Chamber Regional Manager, Ben Foley.
“24% of Murray-Riverina business reported increases in total sales revenue this quarter, down from 37% in December 2014.
“Fewer businesses experienced profit increases in the March quarter, with just 21% of businesses reporting increases, compared to 32% in December 2014.
“Over half of the Murray-Riverina businesses surveyed said they experienced higher operating costs in the first three months of the year, a slight improvement on December 2014 where close to 60% of businesses reported increases in operating costs.
“Only 13% of businesses reported increases in total staffing numbers, a slight improvement from December 2014; however 1 in 4 businesses expected overall staffing levels to increase in the June quarter.
“Whilst sales and profits might be down when compared to the last quarter of 2014, don’t forget that Christmas splurging makes it difficult for some businesses to achieve similar results the following quarter so this is not overly surprising.
“The positive with these results are that over 80% of the respondents expect the next quarter to be as good as or better than the first quarter. The general business sentiment at a grass roots level is a very optimistic one,” Mr Foley said.
For the full state-wide report CLICK HERE
Media Contact: Ben Foley 0418 211 126