It’s hard to believe, but Australian businesses seem to have shrugged off the fall in consumer confidence we experienced after the Federal Budget came out in May. A new NAB survey shows business sentiment is up again in our nation, and anecdotal evidence indicates trucking is following suit.
According to NAB, confidence is strongest in the construction industry at the moment, but mining had a good month too – not the worst foundation for trucking to build on. In fact, experts already feel confident enough to predict an improvement in trading conditions across the board, which is good news for all of us.
“With profitability up and trading much stronger, the bounce in confidence and conditions buys the economy vital time for consumer confidence to recover,” economist Greg McKenna explains – effectively saying we could have witnessed the start of something new and exciting in June.
I admit I don’t exactly know why the mood made such a jump; in fact I highly doubt there would have been many forecasts for an upsurge in confidence prior to the NAB survey. But somehow we managed to overcome the budget shock and made the best of it.
If you look at the trucking industry, the backbone of our economy, you may understand why. Over time, many a transport company has proven extremely resilient and capable of reaching peak performance even during the toughest of times.
The key to success is not to give up and provide excellent customer service at any time, not just when things are going our way.
That’s also why we have a dedicated finance and insurance special in our current edition. We all know making smart choices when business is going well helps getting through rough patches down the road, but sometimes it’s easier said than done. To support you and your business, we asked the experts on how to ramp up cash flow when it’s most needed.
So what do we take away from it all? We may not have a handle on the economy at large, but we can dictate the way we respond to adversity. Trucking has proven long ago that we’re able to find new and innovative ways to elevate our game and improve – even we’re not satisfied with all that’s going on around us. Keep up the good work!