If you're a business owner, you need to read these Sunshine Coast stats
In 2018, the Business Confidence survey for the Sunshine Coast area had some encouraging statistics indicating a positive business outlook for this year. With these positive results came the acknowledgement of large constraints on growth of business that all business owners should be made aware of.
What is the Sunshine Coast Business Confidence Survey?
In case you haven't heard of it before, the Sunshine Coast Business Confidence survey is a unique barometer of economic activity and one of the few forward projecting data sets available to the Sunshine Coast business community.
The purpose of this survey is to assist local businesses in their future decision making by understanding local data and information. The survey was created by Boardroom Business and is in partnership with many businesses and government organisations around The Sunshine Coast.
The results
The overall results of the survey index suggested a positive business outlook for 2019 which has been consistent with results from previous years. 214 businesses responded to the survey with results revealing that:
- 50% of respondents are currently using, deploying or preparing for the greater use of technology.
- 74% stated that they are either highly likely or likely to invest time and effort into their own skills in the area of digital technology.
- The main constraints that were revealed were the rising overheads and utility costs that were attributed to hindering business growth.
- The majority (81%) of survey responses pertaining to the confidence indicator questions reflected the next six month outlook as ‘no change or increase’ in profitability, new staffing and capital investment expectations (up 1% on 2017).
The full 2018 Sunshine Coast Business Confidence Survey is available here: boardroombusiness.com.au
The implications
Management of investment opportunities and staffing are important concerns in many businesses, however these survey results suggest there is real potential to increase the effectiveness of businesses management coast wide.
Increasing business profitability through new technology adaptations is easier said than done, or is it?
New technology is constantly being developed to make your life as a business owner easier with specific tools made to manage shortcuts around the time consuming components of running a business.
To make the boring bits of business run a little smoother, a special rostering software has been developed called Tanda creating a seamless and powerful way to manage the time clock-payroll-process.
The team at Bottom Line Control is excited by this app, at it allows you can build rosters, send shift schedules via the app, set up staff clock in/clock out, automate time sheets and seamlessly integrate it all to Xero.
Bottom Line Control are your local Xero accountant specialists, as we are a certified Xero adviser that can help you with the productive management of the software. At Bottom Line Control we want to help you get the best use of the software, therefore we are open to any questions you have regarding the most efficient way to implement the software to suit your business goals.
Tanda is not the only app you should be interested in, there has also been new updates to Xero allowing multiple shortcuts that make entering past dates on invoices and bills a whole lot easier.
Do you want to enable optimal growth and money management this year for your business?
With rising overheads and utility costs being the top constraint in business growth gathered from the confidence survey over the past two years, it may be time to rethink the way you’re budgeting/using the resources available to you.
Speak to our team for expert business and financial advice on 07 5471 7077 or complete our appointment request today.
Want more sound business financial advice? Speak to the team of Sunshine Coast accountants at Bottom Line Control today.
