Over the past 12 months, 42 percent failed to meet their revenue targets, although this is actually an improvement on the 55 percent that reported this way in 2011.
Despite their increased negativity towards the economy overall, only 13 percent of surveyed NSW businesses are predicting negative growth over the coming 12 months. However, a hefty 41.5 percent think their growth will not exceed five percent in the current period, which after allowing for inflation means that many of these businesses will be essentially marking time.
Main business worries in NSW centre on competitor activity and consumer confidence (or the lack of it). Respondents assess the main drivers of change as government policy and legislative change and the overall economic outlook.
Thirty-five percent of respondents expect to increase their headcount in the current year, compared to 46 percent in 2011. Twenty percent intend on reducing headcounts, up from just 8 percent in 2011.
Along with respondents in Victoria, WA and the NT, NSW businesses feel economic infrastructure should be the main priority for their state government.