TEC CEO Confidence Index forecasting for your business
The Executive Connection Confidence Index is a quarterly survey measuring the confidence of Australian business leaders of small-to-medium businesses. The results provide insight into the challenges and opportunities faced by leaders and their confidence in the Australian business environment. The Confidence Index Quarter 2, 2017 was conducted in June 2017, with 188 Australian chief executives and business owners participating in the research.
The opinions of these business leaders provides a clear snapshot of the current economic, market and industry trends and demonstrate growth over the next 12 months.
CEOs eye increase in profitability
Australian CEOs of small-to-medium enterprises have profitability and sales revenue increases in their sights, as their confidence in the economy grows. Business leaders across Australia have not let megatrends, such as climate change or shifts in global economic power impact their outlook. Eighty six per cent are confident economic conditions will remain the same or improve over the next 12 months, up three per cent on the quarter.
With the book now closed on FY2017 reporting season, CEOs are optimistic about the future. Up 9 per cent since Q2; 72 per cent of leaders are expecting an increase in profitability in the next 12 months. At the same time, 84 per cent believe sales revenues will increase during that same 12-month period.
For an international perspective, view the Vistage CEO Confidence Index which has been a proven predictor of GDP, two quarters in advance in the US.