The Sensis Business Index for March 2015 shows confidence among small and medium-sized business in NSW surged ahead in the March quarter.
The data has been hailed by Industry Minister Anthony Roberts and Small Business Minister, John Barilaro, as great news for the NSW Government’s efforts to boost the economy and rebuild NSW.
“Our 695,000 small and medium businesses are the key to wealth and job creation, so this new data is a great bellwether for the State’s future growth,” Mr Roberts said.
“It builds on data from NAB’s Quarterly SME Survey for the March quarter which showed confidence in NSW has exceeded overall SME confidence in Australia consistently since the start of 2014.”
In April, NSW secured the number one spot in the nation’s economic rankings for the third consecutive quarter, according to the latest State of the States report from CommSec.
Mr Barilaro said: “The evidence is compelling – NSW is Australia’s leading state and a powerhouse for the nation’s economic growth.
“It’s testament to our work to rebuild the NSW economy and position the state nationally and globally as Australia’s prime location for business and industry growth.”
The Sensis Business Index is a quarterly survey of Australia’s small and medium enterprises (SMEs) which commenced in 1993 to measure and track SME business activity over the last three months; expectations for the current three and next 12 months and overall confidence among SMEs.
The Sensis Business Index for March 2015 stated: “The recently re-elected NSW Government is now considered the most supportive state or territory government in Australia, just ahead of the Tasmanian Government. Queensland and Victoria’s governments have been relegated to clear negative territory now on this measure.”
Sensis Chief Executive Officer, John Allan said small businesses “were very strong in their views towards each government that had gone to the polls – in NSW they believed the State Government was promoting the building industry, reducing red tape, investing in infrastructure and getting the economy going.”