Most SMEs enjoyed good business conditions in the September quarter and are positive about their prospects for the year ahead, according to the NAB quarterly SME survey released today.
A high 35% of SMEs surveyed reported good or very good business conditions in September quarter compared to 13% who reported poor or very poor conditions. Those SMEs who reported good conditions attributed them to a high level of consumer demand.
Profit levels were also up, with 39% of SMEs saying they enjoyed good or very good profits compared to 17% with poor or very poor profits.
SMEs in WA and Queensland reported by far the strongest conditions, while conditions in NSW lagged well behind lagged well behind the other states and below the national average.
In terms of industry sectors, finance, property and business services performed best and food and wood/paper manufacturers worst.
Over the next 12 months, small businesses in the transport, construction and health sectors and larger SMEs in the property and business services sectors have the most positive profit outlook.