The survey highlights that many businesses across the state have been doing it tough, however there are preliminary signs that businesses think tax cuts and interest rate reductions will provide a welcome boost.
The survey was conducted following the recent State and Federal Elections.
“Businesses from the Far West and Orana, New England Northwest, Capital Region, Southern Highlands and Shoalhaven Region continue to report particularly difficult business conditions,”Ms Martin said.
“Last quarter business on the Central Coast had managed a better outcome than seen across the rest of the state. Unfortunately, that’s not the case this quarter and a number of businesses reported reducing staff numbers as a result.
“That’s not a result anyone wants, but with costs rising and revenue and profits falling, businesses are forced to turn to staffing numbers to maintain costs.
“Fortunately, there is some light at the end of the tunnel, with the survey showing that business on the Coast expect a rebound in conditions next quarter.”
