Business owners optimistic

Written on the 10 August 2009

DESPITE some business owners reporting revenue losses, most have a positive attitude and expect the Australian economy to improve in the next six to 18 months.

According to the MYOB Small Business Survey, more than half of the participants expected conditions to improve.

“The latest MYOB Business Monitor indicates that the economic downturn is hitting Australian business owners’ pockets, 39 per cent of business owners surveyed report business revenue losses in the last 12 months, while only 19 per cent report revenue gains,” explains Tim Reed, CEO of MYOB.

“However, on a brighter note, while business owners are reporting losses now, they are optimistic for the future, with just over half (54 per cent) of business owners surveyed expecting economic improvement in the next six to 18 months. Further to this, 36 per cent of business owners believe that their business revenue will increase over the next 12 months, with only 15 per cent expecting a decline.

But the MYOB Business Monitor also reveals that many business owners are not tracking their cash flow effectively (48 per cent), which impacts their capacity to make business decisions based upon a proper cash flow analysis.

“A surprising number of business owners appear to have little focus on managing their cash flow. The economy is not out of the woods just yet and we encourage business owners to really focus on cash flow, make it a priority and take full advantage of all opportunities to maintain, and possibly improve, their business health,” says Reed.


Latest News

PROFIT BOOST FORECAST AT VILLA WORLD

VILLA World has forecast profit growth of 5 per cent in the first half of FY17 in an earnings guidance released to th...

WP CURVE SOLD TO GODADDY

NASDAQ-listed tech company GoDaddy has bought Gold Coast's WP Curve for an undisclosed sum.

The subscription-b...

BOARD SHAKE-UP TAKES OUT SURFSTITCH FOUNDER

ONLINE actionwear retailer SurfStitch Group (ASX: SRF) has announced a major board shake-up in a move that effectivel...

ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN Energy will spin off its upstream oil and gas business in an as-yet unpriced IPO.

It will allow the Sydney-...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter