It's a good time for Australian businesses, according to the latest figures from Roy Morgan Research.
The latest business confidence survey, undertaken in October 2013, shows that Australian business confidence has risen to a record high.
The last peak followed the September federal election, but confidence has increased since then by two points to reach a score of 136.3 – that's the highest level reported since the survey began in December 2010.
This increase in business confidence has led to a greater proportion of businesses reporting that they are better off now than the same time last year. The last time this was reported was in April 2011.
As well as this, 76.7 per cent of the businesses surveyed reported they expect good times financially in the next twelve months, while those expecting bad times fell to a record low of 23.3 per cent.
"While sources such as the Reserve Bank appear to forecast the next 12 months to be particularly tough for Australian businesses, businesses themselves do not appear to share this pessimism. The Retail, Accommodation and Food Services and Personal Services industries, in particular, have their highest figures we have yet recorded coming into the Christmas season," said Nigel Smith, director of business research, Roy Morgan Research.
With Christmas coming up, it's the perfect time to make sure your business is the best it can be, to take advantage of these high levels of business confidence.
Consider online survey software, which can be used to send surveys out to both employees and customers, so you can make sure you are keeping up to date with their needs.
It's important to stay informed of what your customers want, especially during such a crucial time of year.
Trial an Australian-built online survey tool with a free custom-branded demonstration of PeoplePulse.
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