Each year, the Small Business Development Corporation (SBDC) surveys a sample of small business operators from around the State, to determine how they expect their business to be impacted over the coming 12 month period, and what challenges may face the sector in the immediate future.
SBDC Chief Executive Officer, David Eaton, says this snapshot of small business sentiment helps to track the changes in expectations of the sector as we head into a new calendar year.
“This year, the poll revealed that although respondents remain concerned about the economy, they seem generally confident of increasing sales within their businesses,” Mr Eaton said.
“It is a concern however, that while most respondents expect their costs for materials and supplies to increase, they are not so confident about a similar increase in their profitability.
On a more positive note, expectations have risen over the past few years in regards to attracting and retaining staff with respondents looking forward to it becoming easier. These expectations are now at a five year high.
“The expected cost pressures of employing staff are also now at their lowest levels for four years, with only 40% of respondents expecting their staff costs to increase during 2015,” Mr Eaton said.
Respondents were given the opportunity to comment more generally about their business expectations for the year ahead, with some of the comments outlined below. “I consider collaboration with others in my industry may be the way to manage growth. Partnerships may, and can, lead to bigger contracts.”
“It will be a challenge. We are ramping up business development as some resource projects are coming to a conclusion.”
The SBDC would like to thank the 84 small business operators who took part in the survey for their time and their contribution.
Media contact: Di Graham SBDC 6552 3218 / 0432 750 565