Mr McCARTHY - 1998-04-28
It is my impression that recent fluctuations in Asian markets, while having some effect on local markets, have not dented business confidence in the Northern Territory. I am sure the minister's department will be closely monitoring the real effects of that. How is business confidence in the Northern Territory at this time?
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ANSWER
Madam Speaker, the Yellow Pages Small Business Index has been released recently. It has some favourable information relating to small business confidence in the Territory. The Yellow Pages index is designed to track small business activity over the previous 3 months. It is an independent assessment of small business operators, their experiences and their attitudes. Some 1200 small business operators - that is, businesses employing 19 people or less - were interviewed around Australia and 100 of those were located in the Northern Territory. Thus, in terms of a national survey, it was a reasonable sample.
Nationally, small business confidence grew slightly to 51%. However, the Northern Territory leads Australia with a confidence index of 67%. Even though this is down marginally on the November 1997 survey, it still far exceeds the national index. Certainly, small business operators in the Northern Territory have a more positive perception of our economy than those in any other jurisdiction with the exception of New South Wales, which also had a net balance of 19%. We exceed the national average by over 2%.
It is also worth noting that there is more good news in respect of jobs. Business people interviewed in the Northern Territory expect positive job growth, with an index of 30%, compared with the national index of 10%. Most interestingly, this 30% figure is 10 times more positive than at the same time last year in the Northern Territory. Job growth expectations are 10 times more positive this year than last year. This shows clearly that the directions pursued by the Northern Territory government are welcomed by business in creating the sort of environment that enables business confidence to grow.
One of the key indicators in the report is expected profitability. It is pleasing to note that Northern Territory business people have the strongest expectation of an increase in profitability, with an index of 53% against the national figure of only 38%. Again, this figure shows strong growth in the Northern Territory compared with the same period last year. Small business operators in the Territory have confidence in the future. They have confidence in the direction of the government, and it is pleasing to see that the policies of the Country Liberal Party administration are creating positive business activity which creates jobs for young Territorians.
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Page 213
ANSWER
Madam Speaker, the Yellow Pages Small Business Index has been released recently. It has some favourable information relating to small business confidence in the Territory. The Yellow Pages index is designed to track small business activity over the previous 3 months. It is an independent assessment of small business operators, their experiences and their attitudes. Some 1200 small business operators - that is, businesses employing 19 people or less - were interviewed around Australia and 100 of those were located in the Northern Territory. Thus, in terms of a national survey, it was a reasonable sample.
Nationally, small business confidence grew slightly to 51%. However, the Northern Territory leads Australia with a confidence index of 67%. Even though this is down marginally on the November 1997 survey, it still far exceeds the national index. Certainly, small business operators in the Northern Territory have a more positive perception of our economy than those in any other jurisdiction with the exception of New South Wales, which also had a net balance of 19%. We exceed the national average by over 2%.
It is also worth noting that there is more good news in respect of jobs. Business people interviewed in the Northern Territory expect positive job growth, with an index of 30%, compared with the national index of 10%. Most interestingly, this 30% figure is 10 times more positive than at the same time last year in the Northern Territory. Job growth expectations are 10 times more positive this year than last year. This shows clearly that the directions pursued by the Northern Territory government are welcomed by business in creating the sort of environment that enables business confidence to grow.
One of the key indicators in the report is expected profitability. It is pleasing to note that Northern Territory business people have the strongest expectation of an increase in profitability, with an index of 53% against the national figure of only 38%. Again, this figure shows strong growth in the Northern Territory compared with the same period last year. Small business operators in the Territory have confidence in the future. They have confidence in the direction of the government, and it is pleasing to see that the policies of the Country Liberal Party administration are creating positive business activity which creates jobs for young Territorians.
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Last updated: 09 Aug 2016