State doing well but that's not enough

RESULTS from a recent NSW Business Chamber survey show businesses are increasingly positive about the state's economy but remain concerned about their own performance.

From December 10 to 24, 738 respondents took part in the survey of business conditions.

Of those, 8.1 per cent were from Sydney's north west.

When asked to name the key drivers of regional and industry performance, the most common factors were Christmas and the lower Australian dollar.

But businesses also reported significant increases in competition, which may affect their individual performance but not the economy's.

The chamber's chief executive, Stephen Cartwright, said businesses haven't been this positive about the state's economy since March in 2010.

"Unfortunately, this optimism about the broader economy hasn't been fully reflected in the experience of individual businesses," he said. "Sales revenue [-4.6 per cent] and profitably [-19.5 per cent] are heading in the right direction but they remain below zero and that's a concern.

"Cost reduction was the major focus in most business plans. Governments need to start shredding the mountains of red tape currently in the way of efficiency improvements.

"Lacking a bold drive to reinvigorate the Australian economy after 22 consecutive years of growth will come at the cost of jobs and a decline in our quality of living."

More results: nswbusinesschamber.com.au.

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