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Increasing business confidence offers incentive for commercial development

By Greg Bell

The latest figures released by Roy Morgan have offered some insight into the increasing level of business confidence being seen across the nation. These could be exciting figures for anyone interested in developing their own commercial property in Surfers Paradise in the near future. The report found that November saw an increase in confidence of 8.1 points – or an increase of 7 per cent – over October, bringing the figure to 123 points. 

This is the highest level seen since January 2014, and beats out the four-year average of 118.2 points. While this year has seen a number of ups and downs, these new figures offer some insight into the potential strength of 2015, offering some incentive for investment in the Gold Coast over the coming months. 

Roy Morgan Research industry communications director Norman Morris said a general optimism permeating the nation for the next 12 months is the reason for this increase in confidence, especially for those considering business expansion. 

"Economic growth depends to a large extent on increased business investment and in November the proportion of businesses considering that the next 12 months would be a good time to invest in growing their business increased to 62 per cent, which was the highest level since January and well up on pre-federal election levels of 55 per cent in July 2013 and 56 per cent in August," said Mr Morris in a 9 December release. 

Some of the industries experiencing notable increases in confidence nationwide include the construction sector, retail and manufacturing. With the massive hole left by the rapid reduction of mining investment seen this year, the need for these sectors to move up and take the mantle of Australian business is important. Mr Morris also pointed out the importance of improved banking fulfilment across the nation. 

"A challenge for banks continues to be how to improve the satisfaction among their business customers which still lags well behind that of their personal customers. This highlights the need for an increased focus on meeting the needs of business customers if they are to be retained and attracted when business demand for finance eventually picks up," said Mr Morris. 

As businesses become more optimistic about the future , now could be a great time to consider making your own moves towards investing in Surfers Paradise commercial property for your future. 

Increased number of jobs seen nationwide

Furthermore, another Roy Morgan release has highlighted that while unemployment has increased – rising to 10 per cent over November – the number of people employed rose to a record 11,396,000 over the same month. Roy Morgan executive chairman Gary Morgan said that the problem comes from not having enough jobs to cover the rising population of Australia. 

"November is traditionally a month in which young people finishing up at school and university either look for full-time work or seek part-time employment over the summer months. Both the Australian workforce and total Australian employment have increased in five out of the last six years since the global financial crisis (2008-09)," said Mr Morgan in a 4 December statement. 

With these types of figures permeating the nation, the need for more employment opportunities is obvious. Now could be the right time to consider building your own commercial property in Surfers Paradise, creating construction jobs for a period of time – while also creating a place for potential future employment for people in the local community. 

Get in touch with a local real estate agent to begin discussing the potential options available and start planning your movements into the commercial Surfers Paradise market today. 

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