BUSINESS sentiment remains optimistic in Victoria according to Victorian Chamber of Commerce and Industry Survey of Business Trends and Prospects for the June quarter.
According to the report, 34% of businesses anticipated economic growth in Victoria during the next 12 months and 21% of businesses reporting an increase in exports.
Rising costs are seen as damaging business prospects, however, with 27% of businesses surveyed reporting a decrease in profits.
Victorian Chamber of Commerce and Industry chief executive Mark Stone said the survey results showed optimism.
“If Victorian businesses are to remain competitive, more business-research collaboration is needed. Australia is last on the list of OECD countries when we measure business-research collaboration in a global scale,” Mr Stone said.
“Many other countries do collaboration much better than us – and their economies benefit.”
The Victorian Chamber’s quarterly Survey of Business Trends and Prospects shows 52% of respondents attributed a lack of engagement to being unsure about the commercial benefits of collaboration.