SMALL BUSINESS

Academic, media commentator, author and entrepreneur Peter Switzer has known most of Australia’s big business people since they were small business people. Here, he summarises what he’s learnt about leadership over the last four decades.

Total NAB customer spending grew 7.0% y/y in Q3 2018 – up from 5.6% in the previous quarter and 3.0% in the same quarter a year ago.

The NAB Cashless Retail Sales Index gained 0.8% in October on a month-on-month basis, rebounding from a much weaker 0.2% in September.

In seasonally adjusted terms, at 0.3%, online retail sales slowed in September. The 12 months to growth rate is also slower.

Small and Medium Enterprise (SME) business conditions edged lower in Q3 2018 to +11, while SME business confidence fell to +2pts. While conditions have eased over the past two quarters, they remain well above average, though confidence has declined to below average levels.

Keen to expand your business’s global footprint? If so, there are compelling reasons to consider heading to the UK, especially if you own a tech start-up, with an exciting new competition just launched.

The business conditions index rose by 2pts to +15 index points in August, recovering some of the ground lost in recent months. Business confidence fell 3pts to +4 index points and is now below average.

Online sales growth on par with June, faster over the year

Total NAB customer spending grew 5.6% y/y in Q2 2018, down from 6.8% in the previous quarter and 3.9% in the same quarter a year ago. It grew faster in metropolitan (6.5%) than regional (5.1%) areas.