The global boom in SMEs in a world hungry for quality Australian goods and services is creating opportunities for local businesses prepared to look beyond their own backyard.

The business conditions index fell by 2pts to +12 index points in July, continuing its run of declines since April. Business confidence ticked up 1pt to +7 index points, an around average level.

In seasonally adjusted terms, at 1.2%, online retail sales slowed in June. The 12 months to growth rate is also a bit lower.

The business conditions index ticked up by 1pt to +15 index points in June, after easing in the previous month. The business confidence edged down 1pts to +6 index points, to be around its long-run average level.

NAB Online Retail Sales Index (NORSI) slowed slightly in May (+1.2% mom s.a.) from stronger growth in April (1.6%). 12 months to growth was also slower in May, with sales up 17.2% compared to April’s 12 month to growth of 18.4%. While slowing, trend online retail sales is still much stronger compared to the same period a year ago.

Hard work and commercial nous acquired on the fly have helped Queenslander Carmel Sales turn a small-time cabinetmaking business into a multimillion-dollar manufacturing powerhouse.

The business conditions index decreased by 6pts to +15 index points, easing back from the historical highs seen in April. The business confidence index fell by 5pts to +6 index points, to be around its long-run average level.

NAB Online Retail Sales Index (NORSI) accelerated in April (+1.4% mom s.a.) from stronger growth in March(1.1%).

Total NAB customer spending grew 6.8% y/y in Q1 2018, up from 5.0% in the previous quarter and 2.0% compared to the same quarter a year ago.