While a significant number of businesses are struggling, 60 per cent of companies say they are planning to expand in the next year, a survey shows.
A surprising number of Australian companies have indicated they are confident about the state of the economy despite inflationary pressures and high interest rates, which have caused many businesses to collapse in the past 12 months.
“Some businesses are thriving, some businesses are struggling, but there’s a positive sentiment. The Australian economy, whilst it has been challenged, is really resilient and really impressively. These small business customers can adapt quickly.” NAB’s business insights survey shows plans to step up investment was strongest in Queensland and Victoria, driven by the finance and insurance industries, as well as property and business services.Jones said while businesses continued to find economic conditions difficult, they could see light at the end of the tunnel and were making plans to “springboard for that growth”.
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