Central Queensland businesses feel the mining slump

The mining slump is felt further down the line
The mining slump is felt further down the line Albert Fedchenko

CENTRAL Queensland small businesses have copped the full brunt of the downturn in the mining sector.

The region rated 5-10 index points lower than the state average in general business conditions, sales and revenue and profitability, a Chamber of Commerce and Industry Queensland survey for the June quarter, released yesterday, showed.

Central Queensland's business confidence for the June quarter was at 43%, eight per cent lower than that of North Queensland, but still not quite as low as the Central Coast's 35.4%.

Confidence was expected to improve during the current quarter to just above neutral territory at 50.9%.

"Small businesses provide vital goods and services to the state's larger projects, particularly in the resources sector, and when the sector slows these businesses are impacted," CCIQ regional manager Victoria Bradshaw said.

The survey revealed employment levels and capital expenditure both weakened during June, while confidence dropped to 43%.

Ms Bradshaw said the fall in business confidence was reflected across the State and could largely be attributed to the uncertainty surrounding the federal election.

Statewide the survey confirmed lower sales, business confidence and profitability as a result of rising business costs.

There was also a direct correlation between a slowing down of discretionary spending when elections are called, as businesses and employees await policy implementation of whichever government is elected.

CQ's business confidence

43% of businesses are confident of the next 12 months.

36.6% of businesses are confident in their general business conditions.

Topics:  business chamber of commerce and industry queensland mining

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