Sunshine Coast businesses have continued to remain under pressure according to the results of the latest Sunshine Coast Business Confidence Survey released at a Sunshine Coast TAFE function yesterday.

With nearly 500 businesses again participating in the Coast-wide business survey the data shows some glimmers of resilience in our local economy, however it also demonstrates that we are not out of the woods yet.

Senior Financial Markets Analyst from Suncorp Bank and economic commentator Mr Darryl Conroy said that business conditions have been particularly challenging over the past six months.

“The Australian economy is dealing with an accelerating resources sector that is trying to capitalise on rising commodity prices versus a non-mining sector that is becoming increasingly squeezed,” said Mr Conroy.

“We are suffering from ‘Dutch Disease’, that is, a booming resources sector draws ever increasing amounts of investment and people away from traditional businesses and toward the mining and energy industries.

“This concept is especially tough on economies like the Sunshine Coast that rely heavily upon retail, accommodation and construction business.”

Mr Ross Hepworth, Director of the Sunshine Coast Institute of TAFE and key sponsor of the survey said that almost half (46 percent) of businesses have seen weaker results over this recent period which is a similar response to the past survey.

“This is a far cry from survey results eighteen months ago and a strong indicator that the changes we are seeing in our global, national and local economies are significant and may have long lasting effects,” said Mr Hepworth.

“However it is truly heartening to see the optimism shining through from our small business sector with a swing towards a more positive outlook to future, with 72 per cent of businesses responding that the next six months will either be the same or stronger.”

This September business survey also focused on national and international threats and opportunities facing coast businesses, with fuel prices, the Australian dollar and the carbon tax ranking highest as major threats in our local business community.

“On a positive note was the 31 per cent of respondents who saw sustainable technology as an opportunity for their businesses,” said Mr Hepworth.

“Consumers are becoming more aware of sustainable technology and are increasingly directing their purchasing power towards goods and services that demonstrate environmental sustainability.”

This message couldn’t have been more pertinent as over 50 businesses joined Mr Hepworth at the newly opened Sunshine Coast TAFE Sustainability Centre for networking and the formal release of the survey results on Thursday 27th of October.

For a copy of the entire results report go our dedicated Sunshine Coast Business Confidence Survey page.