Media Releases

Half of Canberra businesses did not meet sales targets in the December quarter

The second quarterly Canberra Business Chamber Business Beat survey that tracks business performance and confidence in the ACT, shows that 49 per cent of businesses did not meet targets in the fourth quarter (up from 39 per cent last quarter).

Confidence also fell with 37 per cent of businesses report feeling positive about the present business situation, down from 43 per cent last quarter.

“A number of factors are impacting this, but the biggest issues this quarter were the increased costs of doing business, and challenges in attracting and retaining skilled staff,” Canberra Business Chamber Chief Executive Greg Harford said today. 

“Businesses owners are also grappling with tough decisions about putting prices up in response to the rising costs of doing business. Reduced customer demand was the single biggest issue this quarter for 17 per cent of business owners in Canberra. This may signal that we will continue to see inflationary pressures feeding through into consumer pricing over the next few months.”

“Regulations also remain an issue with workforce relations and compliance a specific concern. Businesses that work with the Federal Government continue to be impacted by the reduction in the use of consultants and contractors.”

Download the full report here.



CBC Media Contact:     Greg Harford, CEO of CBC
CBC Office:                     02 6247 4199