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Mr Riaz said the business confidence survey is crucial information that should be available to the public.<\/p>\n
\u201cIt\u2019s important to track the level of confidence so we can reflect on what is needed because if confidence is going down key stakeholders can jump in,\u201d he said.<\/p>\n
\u201cWe need to know what businesses are thinking about in terms of opportunities in the future and what is needed from key stakeholders.\u201d<\/p>\n
Responses to the survey came from more than 150 enterprises, and a further 15 in depth interviews with business leaders and owners.<\/p>\n
Chair of Regional Development Australia Grampians, Stuart Benjamin, said he found survey results to be mixed, however, was surprised they weren\u2019t more negative.<\/p>\n
\u201cWhile in general confidence was slightly up, I think a lot businesses are a little hesitant about what the future looks like with varying economic conditions,\u201d he said.<\/p>\n
\u201cI thought the results would show a lot less confidence, I was quite surprised.\u201d<\/p>\n
Mr Benjamin said the results would be different if businesses were asked to take the survey today, due in most part to the worsening economic climate.<\/p>\n
\u201cThe survey results are a few months old, and I think if we were taking that survey now we would get a less positive result,\u201d he said.<\/p>\n
James Robson, director of OTL Consulting Group and member of the Commerce Ballarat board echoed a similar sentiment – that the survey results would be different if it was conducted today.<\/p>\n
\u201cIt\u2019s been very very up and down,\u201d he said. \u201cIn 2020 we saw very significant drop of in business, but things did sort of steady.<\/p>\n
\u201cWhen this latest version of the survey was done things were looking up and there was an increase in confidence.<\/p>\n
\u201cI think if the survey was to be done today, in particular with interest rate rises and that sort of thing, I think confidence might look lower than what it does with the outcome of the survey.\u201d<\/p>\n
However, Mr Benjamin also said he believes the survey had some positive stories to tell.<\/p>\n
\u201cOne of the strong factors of the Ballarat economy is because we are a diverse economy with construction, agriculture, tourism and manufacturing, it means when one sector comes back a little bit hopefully the others prop up the economy,\u201d he said.<\/p>\n
Mr Benjamin also agreed with Mr Riaz that conducting surveys like this are crucial.<\/p>\n
\u201cToo often in our community and our political system we only want to talk about the good news stories,\u201d he said.<\/p>\n
\u201cThis survey allows business to speak very openly and honestly about the experiences they\u2019ve had.<\/p>\n
\u201cIt allows us all to plan for our investments and our businesses.\u201d<\/p>\n
With so many businesses making time to take part in the research, Mr Benjamin acknowledged the effort.<\/p>\n
\u201cI think it\u2019s really impressive that businesses, who have a lot of things to do, filled out the survey,\u201d he said. \u201cIt shows a lot the esteem in which business hold Commerce Ballarat.<\/p>\n
\u201cIt\u2019s a really positive reflection our business community.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
THE findings of Commerce Ballarat\u2019s recent business confidence survey have been released, and they are indicating an overall positive outlook for the region\u2019s enterprises. Covering last financial year, survey is the third of its kind conducted by Commerce in partnership with Federation University, and the City of Ballarat. FedUni\u2019s lead researcher Dr Shoaib Riaz said […]<\/p>\n