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Gloomy times at the small end of town

ALL is not well in small business land, according to the latest Australian Chamber of Commerce and Industry small business survey.

Most small businesses expect the economy to do well but their own firms to do poorly.

Sales revenue has fallen sharply in small business. Profitability has plummeted with nearly half of the respondents indicating profits had fallen during the past quarter.

Employment data has declined sharply and the trend is expected to continue in the next quarter.

Investment in buildings has fallen but more of a concern is the decline in plant and equipment. This fall is common to firms of all sizes but the small business sector recorded the lowest outcome.

Trends in general business conditions have been sharply downward for much of the year but in the latest quarter small business has been joined in this downwards rush by medium and large-sized firms as well.

There are many negative features in the economy. Petrol prices have driven costs upwards which will be taking a toll.

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