Queensland business confidence has hit a nine month high, according to the Westpac Group CCIQ Pulse Survey of Business Conditions.
The survey shows the Queensland businesses are moving into positive territory, as confidence in the Queensland economy rose by 12.9 points to reach 63.3, the highest level since March 2012.
“Importantly, 58 per cent of businesses think economic conditions will continue to improve over the next 12 months,” Treasurer Tim Nicholls said in an October 31 statement.
In addition to future forecasts, almost 40 per cent of businesses agree the September quarter brought improvements to general business conditions in the state.
Mr Nicholls has attributed the rise in confidence in part to the Newman Government’s election promise to reduce the burden on businesses by making it easier to create jobs and grow the Queensland economy.
The government has already set in motion 440 red tape reduction strategies, while streamlining development processes. Ultimately the goal is to reduce the time taken for approvals.
“These actions from a Can Do government are giving businesses the confidence to invest and employ in Queensland,” Mr Nicholls said.
In further good news for the local economy, Australian consumer confidence is also increasing, according to the Westpac Melbourne Institute Index released in October.
Mr Nicholls also revealed figures from the Australian Bureau of Statistics show 17,000 full-time jobs were created in Queensland in September.
“It’s clear confidence in our economy is growing and businesses realise Queensland is the best place in Australia to invest, employ and grow,” he said.
With high business and consumer confidence, the Queensland economy is in a prime position to take advantage of the upcoming Christmas market.
With December fast approaching, Retailers in Australia should have their Christmas retail strategy well underway. Businesses can prepare for the festive season by evaluating stock levels and engaging with loyal customers via mailing lists.
If you have specific business goals you’re hoping to reach this Christmas, partnering with a retail specialist can help you create a comprehensive plan to reach those all important targets.