Trading conditions for local businesses continued to be tough during the second half of 2011, but the majority of Moreton Bay Region businesses have maintained their profitability, according to the latest Moreton Bay Business Confidence Survey released today.

Moreton Bay Regional Council Mayor, Allan Sutherland, said confidence for 2012 was also improving.

“The survey demonstrates the resilience of local businesses in the Moreton Bay Region with the majority of businesses reporting trading conditions and profitability were either the same, stronger or much stronger in the past six months,” Mayor Sutherland said.

“And despite the serious economic challenges that have unfolded globally in recent months, there’s more optimism among business leaders that profitability will bounce back in 2012.”

More than 420 business owners and managers had their say in the second Moreton Bay Business Confidence survey conducted late last year.

Key findings include:

   *   38 percent of businesses predict stronger business performance in the next six months (up from 37 percent)

   *   61 percent of businesses report profitability was the same, stronger or much stronger in the last six months (up from 51 percent) 

“It’s very encouraging to see business profitability holding and some instances increasing in the Moreton Bay Region, particularly when you consider the results of similar surveys on the Sunshine Coast and at Gympie,” the Mayor said.

“A profitable business sector means more jobs for locals – and that’s important.”

Assessments on the Sunshine Coast and in Gympie found just over half of all businesses surveyed either maintained or improved their profitability, compared with 61 percent in the Moreton Bay Region.  

Regional Development Australia Moreton Bay Chair, Neil Hoddinett, said the Moreton Bay Business Confidence Survey responses would help build new strategies to assist local businesses to thrive in an increasingly competitive marketplace. 

“That’s not to say there aren’t challenges, with 55 percent of respondents concerned about rising overheads and utility costs,” Mr Hoddinett said.

“Global and national economic conditions, as well as price pressures from customers and competitors, were nominated by 36 percent of businesses as having the potential to erode profitability and more importantly confidence.

“It highlights our commitment to working in partnership with the business community to identify opportunities that can help our region to continue to prosper.”

Results from the Moreton Bay Business Confidence Survey can be downloaded at: www.moretonbay.qld.gov.au or here on our dedicated Moreton Bay Business Confidence Survey page.