Friday 16th Nov, 2018

Business sentiment remains optimistic, but collaboration is needed


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.

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