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The Cbus Small Business Insights Report is based on a survey of more than 900 Australian small businesses working in the building and construction industry.
Initial insights have identified small building and construction businesses appear to be doing well, despite headwinds in the residential construction sector, with many companies providing positive feedback.
Around 40% of businesses reported that their circumstances had improved in the six months to December 2018, while only 13% reported deteriorating conditions.
Reasons cited include an overall increase in turnover over for the previous six months, increased staff hiring and improved cash flow.
Businesses with more than 20 employees were generally more positive when looking back on the last six months than those with fewer than 20 employees.
Looking ahead, almost half (46%) of the businesses said they expect business conditions to improve, with only 6% expecting conditions to deteriorate over this period. Around two-thirds (63%) of businesses expect to hire more staff, and nearly half (44%) expect turnover to increase.
Despite the positive outlook, small businesses face some pressing business issues, including finding new work and skilled staff.
Other significant issues included managing cash flow, managing administration and paperwork, as well as collecting accounts receivable.
View the full report at the Cbus website to see how your business compares to other small businesses and find valuable insights for your business.
This information is about Cbus. It doesn't take into account your specific needs, so you should look at your own business needs, objectives and requirements before making any financial decisions. Read the relevant Cbus Product Disclosure Statement and related documents to decide whether Cbus is right for you. Call 1300 361 784 or visit www.cbussuper.com.au for a copy.
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