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    Coat of ArmsMedia Release
    Treasurer and Minister for Trade and Investment
    The Honourable Curtis Pitt

    New report shows Queensland’s business confidence jumps almost 6 points in 12 months

    Treasurer and Minister for Trade and Investment
    The Honourable Curtis Pitt

    Friday, October 27, 2017

    New report shows Queensland’s business confidence jumps almost 6 points in 12 months

    Business confidence has risen significantly in the Queensland economy over the past 12 months under the Palaszczuk Government’s economic plan, according to the latest CCIQ Pulse Survey.

    The survey released today (Friday) found that while there was a fall nationally of 2.1 points, business confidence in Queensland increased 0.4 points to 47.4 points in the September quarter.

    Treasurer and Minister for Trade, Curtis Pitt, said the survey also revealed business confidence jumped almost 6 points - from 41.7 to 47.4 points - over the past 12 months.

    “This reflects the broad upward trend in confidence in Queensland which we saw earlier this week in the Sensis small business survey and our ongoing top rankings in the NAB monthly business confidence index,” Mr Pitt said.

    “In concrete terms we are seeing a continuing upturn in our state economy as evidenced by good labour force figures showing our economic plan has create 122,500 net new jobs and our trend unemployment rate is down to 5.9% since the January 2015 state election when we inherited a rate of 6.6% from Tim Nicholls and the LNP.”

    The recent Sensis report shows small business confidence in Brisbane was up 17 points in the quarter to +62 – the most confident capital city in Australia in the September quarter and significantly above the national average for capital cities (+50).  Queensland’s business confidence was +42 in the September quarter, up 7 points from the previous quarter and 3 points over the year. Expectations were positive for all key performance indicators.

    Small Business Minister Leeanne Enoch said Queensland’s improving business confidence is further proof the Palaszczuk Government’s programs to support small businesses are having a positive impact.

    “The Palaszczuk Government knows small businesses are the lifeblood of communities, particularly in our state’s regional areas,” Ms Enoch said.

    “The CCIQ’s Pulse Survey shows optimism among regional businesses has increased by 3.5 points since the release of the June survey. This is despite businesses in some regions still recovering from the effects of ex-tropical Cyclone Debbie.

    “We know there is still work to be done, and that’s why we’ll continue to back the state’s 414,000 small businesses through our $22.7 million Advancing Small Business Queensland Strategy.

    “Since I launched the strategy just over a year ago, 743 small businesses grants have been awarded in Queensland - with almost $4.5 million in funding allocated.  In addition, we are driving awareness, support and employment in small businesses through our state-wide Go Local campaign.

    “Through our expanded Mentoring for Growth Program, we have supported 382 mentoring activities by connecting owners and operators with business experts, who provided suggestions and insights on business challenges and opportunities – there are now 514 active mentors supporting this program.

    “Contrast that to the pain inflicted by the previous Newman-Nicholls LNP government through their massive job cuts, when the Member for Clayfield was Treasurer.

    “Australian Bureau of Statistics figures for the 2012/13 financial year reveal the number of small businesses in Queensland fell by more than 14,000. That is an average of around 269 small businesses lost per week in the first year of the previous LNP Government.

    “In Tim Nicholls’ first Budget in 2012, he cut 14,000 jobs and slashed small business support, including: abolishing the Small Business Commissioner; cutting over $700,000 to a number of programs including the successful Mentoring for Growth, and cut Online Business Services.

    “The Palaszczuk Government is committed to supporting jobs for Queenslanders right across the state, and we are committed to supporting small businesses who are so vital to our economy.”

    Mr Pitt said the Palaszczuk Government had also taken decisive action when it comes to energy prices.

    “We continue to work with business to boost investment and create jobs while addressing issues of concern such as power prices through our Affordable Energy Plan capping household and small business price rises at below average inflation rates,” he said.

    “Electricity bills are a major concern for any business and we have used our ownership of our power assets to keep downward pressure on prices.”


    Media contacts:

    Treasuer:     Lindsay Marshall - 0447 316 432

    Minister Enoch:    Neil Doorley - 0412 393 909