2018 survey shows confidence growing in WA
Small business owners are generally optimistic about the economy, their expected sales/revenue and business profitability according to our 2018 Business Expectations survey.
Optimism is particularly high for business profitability - the highest level we’ve seen since 2014.
As part of our annual survey, we asked small business operators what they were expecting for 2018, and the results have now been summarised on our website.
See the results of our 2018 Business Expectations survey (7 page PDF 425KB).
Respondents indicated that the challenges for 2018 would be in relation to increasing operating costs, achieving/managing growth, attracting new customers and reductions in sales/revenue.
In order to meet these challenges, respondents indicated they would be focusing on increasing their customer base, exploring new markets and updating equipment or technology.
About the Business Expectations survey
Our annual Business Expectations survey commenced in 2004. The survey asks small business operators what they’re expecting for the year ahead in relation to their business. In particular, we measure:
- the impact of the economy
- anticipated business profitability
- the cost of employing and retaining suitable staff
- expected changes and challenges within the business