Talking Cents

Looking back at 2013 from a Melbourne small business accounting angle

As small business acconutants based in Melbourne, looking back at 2013 shows  a period of change and depending on whose side you were on, it looks to have been a change for the better.

Australia voted in a change of government which saw the end to a hung parliament. As a result, business confidence has rebounded, with the NAB Monthly Business Survey to Sept 2013 recording a lift in business confidence, rising 17 points above what it was in July, bringing it to the highest level in 3 1⁄2 years.

Business conditions are also moderately up, as finance/business/property and construction showed strong gains, yet the mining and manufacturing sectors were weak.

Looking ahead, here’s a global snapshot, according to the Hon. Joe Hockey’s October Economic Outlook:

Global economy expected to rise 2.9% in 2013
Forecast 3.6% growth in 2014
China’s growth expected to be 7.6% for 2013
IMF expects rise in Australia’s unemployment to 6% in 2014

So all in all, looking ahead, 2014 looks generally positive from a small business perspective, so make sure you back up the consumer confidence with a business that's confident to succeed.