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Business confidence steady

Business confidence steady

News Article Date: 
Monday, 3 November 2014

The recent trend of reduced confidence in Warrnambool’s business environment has stabilised, according to the results of the 2014 Warrnambool Business Survey.

The survey is now in its fourth consecutive year and continues to receive strong support from the Warrnambool business community with 344 responses received in 2014.

Although not as confident as they were in 2011, respondents to the survey indicated business confidence at similar levels to last year. 

Manager of Economic Development & Investment Andrew Paton said that the annual survey was a useful snapshot of business in Warrnambool.

“The Warrnambool Business Survey provides important information on the current perceptions of the Warrnambool business community,” Mr Paton said.

“While business confidence is not as high as in 2011, it is encouraging to see that there was a small increase in this year’s sample figures compared to 2013.

“I would like to thank all of the business operators who took the time to complete the survey, and encourage as many businesses as possible to undertake the survey in the future.”

39 percent of the sampled business operators say they are in a similar financial situation compared to last year, with 26 per cent of the sample surveyed saying they are better off.

When looking to the future, 47 per cent of respondents in the survey sample have a medium level of confidence in the Warrnambool business environment over the next 12 months (compared to 46 per cent in 2013), while 24 per cent of the sample have high or very high confidence.

The survey reported no statistical difference on the number of respondents who generate sales from the internet over the past four years.

The Warrnambool Business Survey is undertaken and delivered in partnership with Deakin University and South West Credit, with support from 3YB/COAST FM and The Standard.

A summary of results will be mailed to all businesses.

Results are also available here.

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