Shire uses barometer to test business confidence

THE Surf Coast Shire is inviting traders and companies across the municipality to take part in its annual Business Barometer Survey.

The shire says business confidence is a unique indicator of economic activity measuring the amount of optimism or pessimism that businesses feel about the prospects of their companies and organisations, and provides an overview of the state of the Surf Coast economy.

The barometer is designed to capture data about business confidence both over 12 months and during the peak (summer) period.

The Surf Coast Shire is growing, and the shire is keen to learn what businesses need to advance in a digital economy and to build capacity in homebased businesses.

In the previous survey, businesses indicated that they want a directory, so the Surf Coast Shire joined the Localised initiative so businesses could list themselves for free, reach out to other local businesses, and learn about the workshops being offered both in the shire and the wider Geelong region.

The shire is also responding to requests from companies for assistance with digital marketing and digitising their business by holding a range of workshops throughout the year.

According to the previous survey, 80 per cent of businesses indicated their performance in 2018 was better than the previous year.

Businesses’ top three digital products used were websites (31 per cent), Facebook (24 per cent) and Instagram (9 per cent).

Nearly two-thirds (65 per cent) of businesses generate sales on the internet.

Businesses that complete the Business Barometer Survey will go in the draw to win a $250 pass to LiveWire Adventure Park.

To fill out the survey, head to surfcoast.vic.gov.au/Community/Businesses.