Commissioned by Hills Business Chamber, the Hills Shire Performance Sentiment Index, conducted by McCrindle Research, is not all doom and gloom but highlights concerns among businesses of all sizes.
By McCrindle’s reckoning, the Hills has been given a PSI score of -12, putting it into the “slowing” category.
The Business PSI measures business performance sentiment and conditions, from -80 (“collapsing”) through to 80 (“accelerating”).
The rating was calculated from asking more than 200 businesses a total of 21 questions on the health of their businesses, outside and internal factors affecting their businesses and their projections for the future.
The biggest lag on businesses was the time and cost requirements needed for compliance, legislation and regulations, rating a “collapsing” -64.
However, business owners could see that there was supportive government policy settings in place, scoring am “improving” 3.
Hills Business Chamber chairman Anthony Moss said the results showed that businesses needed to seek more support from business networking organisations such as the Chamber.
Mr Moss said the survey would be a good tool to lobby all levels of government for improved infrastructure, while allowing the Chamber to know how best to support businesses.
Copies of the report were handed to State Liberal MPs Ray Williams and David Elliott and Federal Liberal MP Alex Hawke at its launch on November 5 at Hills Council chambers.
Mr Moss said he hoped the message would get through to governments that businesses needed more support, with less red tape and improved infrastructure.
At the launch, Hills Mayor Michelle Byrne said the survey was a good tool for understanding business needs.
But she said the region was moving towards “the biggest game-changer” it had seen- the Sydney Metro Northwest, which would give businesses “an enormous shot in the arm”.
Mr Moss said a similar survey would be conducted next March to give a broader understanding of business concerns and needs.
“We want to get the message out there so more businesses can have their say,” Mr Moss said.
He also hoped more businesses would be drawn to the Chamber, which he said operated on four main platforms: connecting with other businesses; promoting businesses; learning from experts and peers and being a collective voice to lobby for assistance for businesses.
“This was the first such study we have done and we plan to have a follow-up in March so we urge more businesses to come on board,” Mr Moss said.
The Hills Shire Performance Sentiment Index can be downloaded from the Sydney Hills Chamber website
SNAPSHOT - PSI survey participants
- 48pc provide products/services
- 52pc provide products/services to businesses
- 26pc sole traders
- 41pc micro-businesses
- 23 pc small bus employing 5-19
- 10 pc medium to large
Concerns
- Rising costs
- National economy
- Poor infrastructure
- Red tape
- Bright spots
- Local economy
- Internal revenue forecast
- More support in recent govt policies
- Rail link expected to lift outlook
