*** JOIN THE BNCC - BECOME A MEMBER TODAY ***

BNCC News

Home > News > News 2022 > November 2022 > Business Profits And Confidence Slump

Business Profits And Confidence Slump

Business confidence continues to deteriorate, according to the Chamber of Commerce and Industry Queensland's (CCIQ) latest quarterly survey.

CCIQ's Pulse Survey of Business Conditions showed falling profitability amongst more than half of businesses (52%).

Despite improved sales, high operating costs are eroding margins, with respondents expecting the problem to worsen over the December quarter.

Labour force levels remain stagnant, with 56% of businesses saying their employment levels hadn't changed. Despite this, 69% of respondents said their labour costs had increased.

BNCC President, Simon Penrose, said the survey results are indicative of what businesses are reporting across Brisbane North.

"Typically, when we think about business confidence, we tend to think about sales. However, the confidence slump we're currently experiencing relates to business costs.

"Everyone's busy, sales are steady or strong, but at the end of the day, there's less money in the till.

"Whether it's power prices or wages, fuel or general supplies, every business owner I talk with is facing ever-increasing costs. That's the sting of inflation, and we need to see that easing in 2023 so our local businesses can grow."

You can download the latest CCIQ Pulse Survey report here.

More Recent News

  • Brisbane City Council Workshop - Double Your Profits Blueprint
    Join this free Brisbane City Council workshop on Thursday, 20 March 2025, to learn how optimising key business metrics can boost your profits and support your growth.
  • Leasing Dispute Assistance
    If you are having issues with your lease, a range of fact sheets provided by the Queensland Small Business Commissioner can help. Once you’ve attempted to resolve it yourself, there is also a mediation service for leasing disputes.
  • Fee-Free Training: An Opportunity for Small Business Growth
    In an era where upskilling can make or break a business, TAFE is offering fee-free training across dozens of high-demand industries. This government-funded program represents a remarkable opportunity for small businesses to enhance their capabilities without the traditional financial barriers to professional development.