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Business conditions for SMEs have reached positive territory for the first time since the Global Financial Crisis began, according to NAB’s SME Quarterly Survey.
For the September quarter, large SMEs with an annual turnover between $5 million and $10 million recorded the strongest improvement and were the best performing group at 6 index points, up from -13.
Small SMEs recorded an improvement from -7 to 4 index points, with mid-sized SMEs increasing from -6 to 3 index points.
NAB business banking group executive Joseph Healy however warned that despite positive survey results challenging times may still lie ahead.
“Business confidence among SMEs for the September 2009 quarter improved significantly to a positive reading of 15 index points. While this is great news, we’re keen to see these positive signs continue well into 2010 before claiming we’re out of the woods,” Mr Healy said.
According to Mr Healy, Western Australia was the only state to report a decline in business conditions.
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