Small business sales are on the up
Article by Mozo
Small companies throughout Australia saw their profits rise last month, according to new figures compiled by ANZ.
The bank's latest Small Business Sales Trends report showed that less established organisations enjoyed a 4.7 per cent upturn in trade in August when compared with the corresponding month in 2011.
In addition to this, the lender highlighted a 3.2 per cent increase in the year to August.
Although general retail sales remained relatively flat, there was an encouraging upswing in the automotive and accommodation sectors.
The past few years have been extremely testing for small enterprises and tough trading conditions have made it difficult for companies to get their hands on vital business loans.
However, things certainly seem to be looking up and a recent study conducted by Roy Morgan Research confirmed that levels of business confidence across the nation are currently at their highest point since January 2012.
"Overall, growth in small business sales remains relatively soft but there are signs that some areas are starting to improve," commented ANZ's senior economist Justin Fabo.
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