ROCKY RIDE FOR SME

Written on the 11 August 2010

ROCKY RIDE FOR SME

ECONOMIST and Queensland Investment chief Doug McTaggart says Queensland’s recovery will spur pending US improvements and not China, while local SMEs will continue to do it tough for some time yet.

This despite a possible double dip recession in the US.

“The US consumer strike is over and while they led us into the GFC, they will be the ones to lead us out of it. Look to the east, not to the west,” says McTaggart.

“While a big risk remains for the labour market, the overall theme is one of stabilisation in the US. The process of reinventing itself every decade or so ensures that the US remains the most efficient economy in the globe.”

Speaking at a recent CCIQ event, McTaggart lamented the significance of past events and also took a swipe at resource rich exporters.

“I have not seen the environment the way that it is right now, there’s so much policy and uncertainty. High profit groups are running their own campaigns.”

He cited past ‘villains’ such as Alan Greenspan and Mahatma Gandhi as proponents of civil disobedience and suggested similar parallels to Australia’s largest mining companies.

In Queensland he predicted tough times ahead for smaller business operators as they continue to feel the pinch while the state emerges caterpillar-like from an output hiatus.

“Confidence is still weak for smaller business, it’s a very tough market and access to credit remains tight,” he says.


Latest News

FORMER MFS EXECUTIVES HIT WITH DISQUALIFICATIONS AND MASSIVE FINES FOR MISAPPROPRIATING FUNDS

FIVE key players involved in an investment company that collapsed in 2008 owing $2.5 billion have been ordered to ...

SURFSTITCH BATTLING FOR SURVIVAL

QUEENSLAND based online retailer SurfStitch Group has gone into a voluntary trading halt for three months after it wa...

STARTUP SUCCESS BOILS DOWN TO PERSONALITY, SAYS EXPERT

THOSE who own startups will know that there are many essential qualities of a good entrepreneur; their tenacity, fina...

THE AMBITIOUS PLAN TO TURN A COLLAPSED FRANCHISE INTO AN EXPANDING BUSINESS

AUSTRALIA'S newest master franchise is set to launch in October as a commercial cleaning operation, resurrecte...

Related News

STARTUP SUCCESS BOILS DOWN TO PERSONALITY, SAYS EXPERT

THOSE who own startups will know that there are many essential qualities of a good entrepreneur; their tenacity, fina...

SLATER AND GORDON TAKES SPOTLESS TO COURT

SPOTLESS Group (ASX: SPO) has been hit by a class action launched by Slater and Gordon (ASX: SGH) in the Federal C...

TOPSHOP GOES INTO ADMINISTRATION AMID VOLATILE RETAIL MARKET

TOPSHOP has become the latest in a string of retailers blasted by the volatile retail market, as the iconic fashio...

SIGMA'S SHARE PRICE TAKES A BATTERING AS IT LAUNCHES LEGAL ACTION OVER SUPPLY DEAL

SIGMA Healthcare (ASX: SIG) has taken the MyChemist and Chemist Warehouse chains to court to demand they continue to ...

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