Australian Business Are Feeling Great About 2014, With Over A Third Reporting 'No Barrier' To Growth

Australian businesses are expecting better sales, profits, prices, investment and employment levels in the coming three months, according to a new Dun & Bradstreet survey that found sentiment at a 12-month high.

D&B’s Business Expectations Survey found 68% of businesses expecting a better year this year than 2013 and 15% planning to hire more staff, compared to only 7% looking to reduce headcount.

The finding is a slight improvement on D&B’s December survey results and brings its employment index to a three-year high, despite government forecasts of a higher unemployment rate.

Nearly a quarter (24%) of businesses plan to raise prices in the next three months, as consumer confidence – and sales figures – lift. This price inflation could prompt the Reserve Bank to lift rates above the current historic lows, D&B warned.

About 21% said that low demand for products could be hamper growth in 2014, while 13% highlighted skills shortages and a whopping 35% foresaw “no major barrier” to growth.

Today’s results come after a tough year for Australian businesses, with 38% reporting that they had customers or suppliers that were unable to pay them in 2013.

There’s more in D&B’s report.

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