Take your business to the next level

Leading Newcastle advisory firm, Maxim Advisors, recently released the 2017 Lower Hunter Business Performance Sentiment Index (PSI).

Following the success of the 2016 PSI, Maxim, with the support of NAB Business Banking, again commissioned the research initiative to be undertaken by McCrindle Research, as a way to offer support and knowledge to local business owners in the region. The research project was conducted in late 2017 and was further enhanced by the release of the Census results of 2016.

The Business PSI is designed to provide ongoing quantitative insight for businesses across three key areas; current local economic conditions, current business performance, and future sentiment.

It delivers a snapshot of how businesses see themselves both now and into the future and assists them in responding to the times and how to position themselves best in the local business environment.

The report demonstrates that the Lower Hunter region continues to show strong, consistent growth and an optimistic outlook. Mark made comment that "this year's PSI results show that the positive operating condition for businesses in the Lower Hunter have increased since last year...and the outlook for business activity has grown and remains buoyant".

Maxim director Chris Sneddon added, “the very strong overall business sentiment was recorded by a diversity of business types that mostly reported an expectation of better business conditions into the future.”

“Another noticeable, and perhaps not unexpected trend, was that 71% of the survey respondents had been in business for 10 years or more. This statistic shows a strong correlation with the Australian population profile and means that there will be growing pressure for business succession strategies in the very near future”, Sneddon added.

We hope that the report offers you insight into the current, and future predicted, business conditions within the Lower Hunter region, and armed with that knowledge, help you identify any opportunities or threats, and assist in the development of your business plan.

Maxim specialise in this area, so if at any time you wish to discuss the strategic plan and future of your business, do not hesitate to contact us!

Enjoy the information that this report delivers.

View the full report here.


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