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Hockey welcomes ACCI Small Business Survey results.

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May 19, 2004

Hockey welcomes ACCI Small Business Survey results

The latest Australian Chamber of Commerce Small Business Index Survey has shown sales revenue, profitability and capital investment have risen in the last quarter with some indices reaching record levels.

The Minister for Small Business and Tourism, Joe Hockey, said the ACCI Survey of Small

Business reflect the positive messages of the recent Sensis Business Index and the surveys

by Dun and Bradstreet, the National Business Bulletin.

The ACCI May 2004 quarter found that small businesses are travelling well in the current

economic cycle. Notably:

• The index on General Business Conditions remained well above its long-term

average and recorded its highest ever trend index

• The positive news is underlined by strong results for Sales Revenue, Profitability and

Investment in Plant and Equipment data

• The survey shows that these indices for small business have caught up with medium

and large size enterprises and may have just pulled ahead.

The latest ACCI Small Business Barometer index reached its highest composite level since

the series began.

“Strong economic management is vital for the health of Australia’s 1.2 million small

businesses and the continued growth of the economy would be put at risk under Labor,” Mr

Hockey said.

The ACCI Survey revealed:

General Business Conditions - performance up The General Business Conditions trend index recorded 61.5 up significantly from the 47.4 recorded 12 months ago. The vast majority of businesses stated that conditions had either improved or were comparable with the previous quarter.


Sales Revenue - performance up The current quarter result of 58.0 is well above the 48.5 recorded for the corresponding quarter last year. Expectations for the next quarter are strong.

Wages - performance up The trend index for Wages Growth increased to 68.0 from 66.0 in the previous quarter. This continues a pattern of growth recorded during the previous five quarters.

Non-wages Labour Costs - performance up The Non-wage Labour Costs trend index also increased, reaching 67.3. This is up from the 65.3 recorded in the previous quarter.

Selling Prices - performance down slightly This index, in trend terms, recorded 52.9, down slightly from the 53.6 recorded in the previous quarter.

Profits - performance up The Profitability index improved marginally in trend terms to record 49.2, the highest result since the beginning of 2000.

Employment - performance up The current quarter topped off a strong year of growth to record 55.8, the equal highest index in trend terms since the series began.

Overtime - performance higher The trend index on Overtime Utilisation recorded 54.7, up from the 53.1 recorded during the previous quarter.

Investment in Buildings - performance down on the previous quarter The trend index recorded 50.0, down from the previous quarter figure of 51.2 but up from the 48.2 recorded in the corresponding quarter last year.

Investment in Plant and Equipment - performance up The index for the current quarter recorded 57.1 in trend terms, slightly higher than the 56.4 recorded during the previous quarter.

Media Contact: Bob Lawrence 0428 280 222