Australia’s businesses third most optimistic- Survey

Australia, January 7: Australian businesses have been rated to be the third most optimistic the world over. This has been revealed by a latest global survey. And the state of Western Australia is rated to be the most optimistic.

Grant Thornton International, a global accounting firm which has done the survey states that the Australian businesses were ranked third in the world due their excellent entrepreneurial spirit coupled with flexibility to adapt in toughest economic conditions.

 Nearly 7,400 businesses from 36 economies of the world formed part of the global survey.

The survey included 250 private businesses including medium scale to large scale businesses in the month of October in Australia. As per the findings of this survey, nearly 79 percent of the private businesses in Australia expressed optimism about the economy of the nation as compared to just 11 percent in the year 2008.

 And Western Australia topped the list of all optimistic states because nearly 90 percent of the businesses were confident of the nation’s economy in the year 2010.

 No wonder, the mining sector in the state of Western Australia happens to be gaining maximum benefit from the wave of optimism in this state. It may be worth mentioned that the mining sector has lead the economy of Australia over the last one year.

 Responding to the optimism showed by the Australian businesses, national head of Grant Thornton International Tony Markwell said private businesses have fared well by showing flexibility in highly volatile economic conditions at the present times. Also, the private business entities have, quite well, exploited their flexibility and size in the wake of severe global recession.

Markwell further added that a large number of clients of his firm have shown a positive note and have assured of well-planned strategies for the market conditions in the coming times.

The survey stated that nearly 95 percent of the private business entities in Australia covered by the survey expect their revenues to maintain a steady level in the current year and 90 percent of the businesses said they expect either an increase in their profits or at least the same rate of profits in the year 2010. Also, they remained assured of no layoffs of any staff this year.