Townsville Business Confidence Strengthens Slightly

Townsville Business Confidence Strengthens Slightly

The PVW Partners Quarterly Townsville Business Confidence Index has strengthened slightly in the September 2019 quarter, with overall participant confidence remaining positive.

PVW Partners Managing Partner Carl Valentine said it is unusual to see such a steady result quarter on quarter, with confidence rising by point one of an index point.

“100 per cent of businesses surveyed who have a turnover of more than $10 million expect sales to increase over coming months, while 98 percent of those businesses with a turnover of less than $10 million are also anticipating higher sales,” Mr Valentine said.

“This is an overwhelmingly positive result across a broad section of businesses in our community and indicates a renewed positivity within the local business sector.

“In another sign of a steadying business climate, 96 per cent of respondents indicated they expect staff training within their organisation to increase. That’s a clear sign that operators are looking to invest in the future of their organisation and its people.”

There has been a distinct upwards trend in business confidence over the past couple of years when compared to the negative scores we saw between 2014-2016.

“We asked local operators what impact, if any, the recent Federal Election outcome had on their optimism around business confidence; interestingly, more than 87 per cent of respondents indicated the election result has positively impacted their level of optimism and confidence,” Mr Valentine said.

“It is also worth noting we have a major pipeline of infrastructure projects which are well underway, including the Stadium, the water pipeline and the Port Channel widening.

“As a business community, we need to ensure we’re united in applying pressure for those works to be carried out by local operators rather than larger South-East businesses.”

[ENDS]