Business Now - June Quarter 2018

What is the survey about?

The Survey of Business Expectations is a quarterly survey which highlights the South Australian business community’s view of current and future economic conditions. In partnership with advisory firm William Buck , the results are analysed, deciphered and published in our quarterly joint publication, Business Now.. These results inform Business SA policy and advocacy work and provide a robust indicator to government and other stakeholders of the business environment in South Australia. You can view all the past results here.

June Quarter Results

Business confidence is riding a wave of optimism flowing from the South Australian elections - buoyed by promises yet to be tested – but operating conditions are worsening as costs continue to rise. 
Business SA has been joined for the June quarter Survey of Business Expectations by chartered accountants and advisers William Buck. As one of South Australia’s largest advisory firms, William Buck understands the needs and challenges faced by the small to medium-sized business community.

The survey has found that despite the unemployment rate falling and confidence rising 1.2 index points to 116.2, which is the highest it has been since June 2010, general business conditions have dropped 13 points since March.

Owners and operators are still facing rising operating costs such as power and water, the cost of materials is going up, and their overheads are heading north.

General business conditions have fallen 13 points since the March quarter, down to 92.5 points, and total sales/revenue has also fallen 12.5 points, to 94.1 points.

Insights: Jamie McKeough, Managing Director, William Buck

“Confidence over the past 12 months has grown more than it has over the past decade. Businesses now need to turn that confidence into revenue and profit. Confidence is critical because it’s the key driver when it comes to encouraging businesses to invest in their operations, their staff and their infrastructure.”

“The dramatic increase in confidence over the past 12 months shows that South Australia’s economy has had a significant upswing. This time last year Holden hadn’t closed and everyone was concerned unemployment would increase. That hasn’t happened. We’ve had BHP expanding Olympic Dam and Oz Minerals’ Carrapateena announcement. Major ship building contracts have been awarded and the state election means a fresh, stable government.”


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