Biz Generally Down but Aussie Biz Owners Optimistic

Australian businesses had gone through a rough time during the past 12 months, as latest survey show that many have achieved no business growth, particularly in terms of revenue.

The survey, which included about 450 entrepreneurs, revealed that at least 51% lacked any profit growth covering 2012-2013 financial year. But despite the numbers, many business owners are still optimistic that the future will be different. At least 60% of those surveyed believed that things will turn around for 2013-2014.

Business owners cited a lot of varying reasons for the low revenues including the rise of competition, the general condition of the economy and the attitude of consumers when it comes to spendings.

The survey was conducted by the Australian Business Growth Monitor with the support of Servcorp, whose chief executive stated that, “These forecasts are in line with broader optimism about the Australian economy.” It also touched on the fact that many are quite satisfied with the federal government.