Western Australian private companies are the most optimistic in Australia regarding the nation's prosperity in the short term, according to a new survey released today.
KPMG's annual private companies survey showed 71.5 per cent of Western Australian respondents believed the economy was on the upswing, compared to 66 per cent nationally.
Just 25 per cent of WA respondents said they did not meet revenue targets over the past 12 months, compared to a national average of 44.8 per cent.
"Western Australia and Victoria were the only states in which a majority of respondents reported meeting or exceeding their revenue targets, with Western Australia clearly outperforming the other states, providing more evidence of Australia's emerging multi-speed national economy," KPMG's report said.
The top concern for Western Australian business, according to the survey, is skills shortages, with 59 per cent of respondents reporting troubles finding staff.
Nationally, 55 per cent of respondents are experiencing skills shortages.
The survey also found 73.5 per cent of Western Australian respondents expected to grow their workforce over the next year, compared to 50.7 per cent nationally.
