Speaking Sensis

Australia’s small and medium businesses have recorded another record quarter of surging business confidence – author of the Sensis® Business Index Christena Singh tells us where exactly we are on the path to economic recovery.

It was great to see another surge in business confidence amongst Australia’s small and medium businesses this quarter. In the September 2009 Sensis® Business Index we saw confidence up 20 percentage points to a net balance result of 50 per cent.

But it is important to look at the path we have trodden over the past few years.  This result has come from a record low of 12 per cent just two quarters ago.  Overall, the highest result we have every measured for SME net confidence was 67 per cent back in August 2004, so a result of 50 per cent, coming from a record low two quarters ago is strong by any measure.

If we take another step back, it is almost two years since Australia’s small and medium businesses told us their confidence was slipping – we measured the largest single quarter drop in SME confidence in November 2007, with confidence falling almost every quarter between then and June this year. So to see two successive records set in growth in the confidence indicator is great news.

While the results this quarter are very positive, it is important to look at the detailed analysis as well, and this shows that the growth in confidence and expectations is much stronger than the growth in performance. The September 2009 results saw sales improve strongly, but it was to a zero per cent net balance – this means that the proportion of SMEs that increased their sales in the past quarter was exactly balanced by the proportion that recorded a fall.

Likewise, profitability improved, but remains net negative. Employment fell back to net negative five per cent, and while the capital expenditure performance was strong, it has continued to outstrip expectations, with SMEs still hesitant about investing in their businesses.

So while the signs for recovery are good, there are still downside risks, and it will be important to see the performance indicators move into positive territory before we can really say that we have a sustainable recovery in place – but at least now the signs are positive and heading in the right direction!

Ok, Citysearch® – Australia’s leading entertainment and lifestyle website- wants your opinion! Be it your favourite place for a Sunday Session or the most romantic restaurant in town, Citysearch® is on a mission to uncover and award Australia’s favourite city hot spots via a campaign called the Citysearch® Best in the City Awards. Check it out at Citysearch.com.au/awards.

The Best in the City Awards has Citysearch® turning the tables on city urbanites and asking them what they think are the best places in town. Unlike countless industry awards that have been done to death, these awards are ‘the people’s choice’ awards – local categories, local picks, voted by local people – people who know and love their city.

So it could be the incredible view from the roof-top bar, the barista who is a master of latte art, the talented street performer in your local strip or the waiter who knows exactly how you like your steak. Citysearch® believes successful city entertainment is built on an ability to offer a unique experience and make it a memorable moment in time. So now it’s time to give Australia’s savvy public a voice and a chance to tell us what they love most about their city.

Until 12 September 2009 nominations are open. Monday 21 September 2009 will see the finalists announced and the public will be invited to vote.

Voting closes 23 October and the inaugural Citysearch® Best in the City Award winners will be announced 2 November 2009.

The awards are running in Brisbane, Sydney and Melbourne. The ten award categories represent the best entertainment options in town, from ‘Best Friday night drinks’ to ‘Best vegie fare’ with the winner in each category taking home the prestigious Eye-Con trophy and the kudos that comes with being voted number one.

So tell us what’s hot in your city and nominate your favourite entertainment options for the title of Citysearch® Best in the City, visit www.Citysearch.com.au/awards.

AWARD CATEGORIES

• Best vegie fare
• Best service to make you smile
• Best Sunday session
• Best place for a first date
• Best Bathroom
• Best Friday night drinks
• Best Place to Watch the Game
• Best Cheap and Cheerful
• Best Street Performance
• Best in the kid-friendly stakes