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What does the current Australian business landscape look like?

20 April 2016

Australian businesses respond well to being surrounded by confidence, so it's always great news when there is a surge in this area.

Through the first three months of 2016, Australian SMEs are being encouraged by the current market conditions. From a stable position, could companies be looking to capitalise and grow while the timing seems right? We think so.

That's why having access to invoice finance is so important - even when there doesn't appear to be any real need for the most struggling businesses among us.

Just how confident are Australian businesses?

According to the NAB Monthly Business Survey for February 2016, much more confident than they were heading into the new year. Business conditions rose by three points on the index to sit at eight, which is far above the recent average of five.

"Another above-average outcome for business conditions is a great result in the current global environment," said NAB Chief Economist Alan Oster.

"It confirms that low interest rates and a more competitive Australian dollar are clearly having the desired effect."

Even further against the grain is the fact that mining, which has long been seen as the driving force behind the Australian economy, is no longer in pole position.

"The service sectors have very much stepped up and are now driving an impressive rebound in non-mining domestic demand," Mr Oster continued.

The Roy Morgan Research Business Confidence Index also showed a significant rise heading into April. An increase of 2.4 points to 115.7 means that there has been a 5.1 point increase over the past two months. This time last year, the Index was only at 112.4 points, so there has clearly been a solid increase since then.

Could your business benefit?

The CEO of Roy Morgan Research Gary Morgan thinks there are a few more increases that Australian businesses can look out for - particularly in Tasmania and New South Wales.

"Looking at the states shows March Business Confidence was led higher by increases in New South Wales, Victoria and Western Australia with the other three largely unchanged. Business confidence is highest in Tasmania and New South Wales."

Are you feeling like your organisation is hitting its stride when it comes to profit, trade and employment? Whether the answer is yes or no, everyone will take something away with an increase in available working capital. If unpaid invoices are getting you down, Earlypay is here to help. Get in touch and make the current business market work for you.