Positive signs for mini SMEs

Written on the 13 May 2009

JUST one in five Queensland SMEs are reporting good or very good business conditions, but the National Australia Bank’s survey shows positive signs for mid and small-sized SMEs last quarter.

The survey found that business conditions index for mid-sized SMEs that had annual turnovers between $3 million to $5 million jumped by 14 index points to 0, making them the best performers.

Small-sized SMEs with turnovers between $2 million and $3 million were the second best performers jumping 22 points to -9 for the business conditions index.

But the state’s index as a whole was dragged down by large SMEs with revenues between $5 million and $10 million, with its index values dropping by 14 points to a ‘dismal’ -17.

The state’s index across the size categories fell by 1 index point to -12.

NAB Queensland business banking general manager Julian Pearce, has called for the support of the state’s SMEs to help them get through the downturn.

"It is time for all Queenslanders to get behind their local small businesses and show their support. Our survey reveals decreased business conditions and poor business confidence, which means it’s more important than ever for SMEs to get the support of the general public to help them through the challenging environment they are currently operating in," says Pearce.

"With business conditions and confidence being dampened by weakening customer demand, Queenslanders should think carefully about where their stimulus money goes, and realise that they need to support their local small business."


Latest News

AVEO GROUP TO BUY BACK SHARES FOLLOWING MEDIA INVESTIGATION

FOLLOWING last night's Four Corners report which revealed accusations against Aveo Group (ASX: AOG) of financi...

STRUGGLING TEN NETWORK IS 'CASH POSITIVE' AND CAN BE SAVED, ADMINISTRATOR SAYS

THE ADMINISTRATORS of the Ten Network say the struggling broadcaster has cash to continue operating and have also ind...

CROWN EMPLOYEES CONVICTED, JASON O'CONNOR TO SPEND 10 MONTHS IN JAIL

CROWN Resorts (ASX: CWN) employees who were arrested in October last year on suspicion of gambling offences have b...

QUICK TURNAROUND FOR $20 MILLION OFFICE IN MELBOURNE OUTER-EAST

AN office building in Melbourne's outer eastern suburb of Mount Waverley has sold for $20.5 million just two year...

Related News

STRUGGLING TEN NETWORK IS 'CASH POSITIVE' AND CAN BE SAVED, ADMINISTRATOR SAYS

THE ADMINISTRATORS of the Ten Network say the struggling broadcaster has cash to continue operating and have also ind...

METCASH NET PROFIT FALLS 20 PER CENT, ANNOUNCES CEO WILL STEP DOWN IN 2018

FOOD and grocery giant Metcash has announced its full year net profit has fallen more than 20 per cent and its CEO Ia...

SHARE PRICE PLUNGE FOR RETIREMENT VILLAGE OPERATOR AHEAD OF FOUR CORNERS INVESTIGATION

A RETIREMENT village operator which has been accused of charging excessive fees through complex contracts has respond...

CHINESE TECH FIRM LOOKS TO AUSTRALIA FOR 'CUTTING EDGE' IDEAS

CHINESE ed-tech company Retech Technologies (ASX: RTE) has listed on the ASX after raising $17.9 million from its IPO...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter