Roy Morgan Business Confidence down 2.7pts to 120.5 in January – Majority of businesses expect good times for the next 12 months

Original article by Roy Morgan
Market Research Update – Page: Online : 9-Feb-21

In January 2021, Roy Morgan Business Confidence was down 2.7pts (-2.2%) to 120.5 – the first decline in the index since August 2020, after four straight months of gains. Despite the fall Business Confidence is now 7.1pts above the long-term average of 113.4, and 18.9pts higher than it was a year ago (101.6). A clear majority of 61.7% of businesses expect ‘good times’ for the Australian economy over the next 12 months, and 52.9% of businesses said the next 12 months is a ‘good time to invest in growing the business’. On a State-based level Business Confidence is higher in all States than a year ago and significantly higher in NSW, Victoria, WA and SA – up by at least 15% in all four States compared to January 2020. Business Confidence is now highest in Western Australia at 140.6 in January and has increased by 27.6pts (+24.5%) from a year ago. Victoria is also in a far better position than a year ago according to the State’s businesses, with Business Confidence up 25.1pts (+25.5%) to 123.7. In 2021 Business Confidence in both New South Wales, up 18.8pts (+18.7%) to 118.9 and South Australia, up 26.7pts (+29%) to 118.7 is starting the year in a much stronger position than 2020.

CORPORATES
ROY MORGAN LIMITED

CEOs eye boost in Biden binge

Original article by Glenda Korporaal
The Australian – Page: 13 & 18 : 18-Jan-21

Australian businessman Andrew Liveris says the incoming Biden administration is likely to pursue capital expenditure initiatives worth between $US2trn and $US4trn over the next several years. Liveris says this may generate opportunities for Australian companies, particularly in areas that are likely be a focus for Joe Biden, such as clean energy and associated infrastructure. Macquarie Specialised Asset Management chairman Tony Shepherd in turn says Biden administration’s stimulus program will be good for the global economy, including Australia. However, some business leaders have expressed concern about any move to roll back the Trump administration’s corporate tax cuts.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, MACQUARIE SPECIALISED ASSET MANAGEMENT LIMITED

Tax Office to review rejected JobKeeper bids

Original article by Tom McIlroy
The Australian Financial Review – Page: 7 : 21-Dec-20

Karen Payne, the Inspector-General of Taxation & Taxation Ombudsman, has found that some businesses may have been unfairly denied coronavirus assistance by the Australian Taxation Office. As a result of her findings, the ATO will re-evaluate rejected applications for business cashflow payments and the $90 billion JobKeeper program. However, despite her findings, Payne and professional bodies such as the Institute of Public Accountants have praised the ATO for the way in which it quickly implemented government assistance programs during the pandemic.

CORPORATES
AUSTRALIA. OFFICE OF THE INSPECTOR-GENERAL OF TAXATION AND TAXATION OMBUDSMAN, AUSTRALIAN TAXATION OFFICE

Roy Morgan Business Confidence up 10.4pts to 109.1 in November – Confidence is now above 100 in four States – NSW, QLD, WA & SA

Original article by Roy Morgan
Market Research Update – Page: Online : 27-Nov-20

In November 2020 Roy Morgan Business Confidence jumped 10.4pts (+10.5%) to 109.1, the highest monthly reading since September 2019 (110.6). Business Confidence has now increased by a record 23.5pts (+27.5%) over the last two months. It is now 0.7pts higher than in November 2019 (108.4), but still 4.2pts below the long-term average of 113.3. An increasing majority of businesses, 57.9% (up 5.5ppts), said the next 12 months is a ‘good time to invest in growing the business’, the highest figure for this indicator since January 2014. On a State-based level Business Confidence is now in positive territory above 100 in four States. Confidence is highest in South Australia at 120.2 although it should be noted most interviewing was completed before the brief State-wide shutdown. Business Confidence is also above average in Western Australia (up 6pts to 114.4), New South Wales (up 8.4pts to 113.8) and jumped strongly in Queensland to 109.3 (up 18.8pts). However, Business Confidence in Victoria (97.8) and Tasmania (88.9) is now well below the national average.

CORPORATES
ROY MORGAN LIMITED

News firms in stand for fairer future

Original article by James Madden
The Australian – Page: 19 : 23-Nov-20

Some of Australia’s top media industry executives have jointly signed an ‘open letter’ to the federal government expressing support for its proposed media bargaining code. The letter also outlines the features that must be included in the code to ensure a level playing field between traditional media companies and digital platforms such as Facebook and Google. Seven West Media CEO James Warburton, News Corp Australia executive chairman Michael Miller and Free TV CEO Bridget Fair are amongst those who signed the letter, which will be published in all major metropolitan newspapers on 23 November.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FREE TV AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FACEBOOK INCORPORATED, GOOGLE INCORPORATED

Australia & COVID-19 The Economic Story So Far 2.0 Roy Morgan Update: October 2020

Original article by Roy Morgan
Market Research Update – Page: Online : 28-Oct-20

During the COVID-19 crisis, the ANZ-Roy Morgan Consumer Confidence Index, Roy Morgan Business Confidence Index and Inflation Expectations all hit new record lows, and Unemployment reached its highest level since Roy Morgan began independently measuring it more than two decades ago. Although the pandemic is still with us, and its effects are being felt throughout the nation, there has been improvement all four measures, although Inflation Expectations was the last to lift and rose only slightly, and the seeming improvement in Unemployment is deceptive. Roy Morgan CEO Michele Levine says "We noted in our previous COVID-19: The Economic Story So Far update that as the pandemic progressed, the early sense of ‘we’re all in this together’ had become eroded – something which has become more obvious with every passing week, both politically and economically. Victoria has been the hardest hit state, but nowhere is unaffected, with a total of 3.16 million Australians (22.3% of the workforce nationally) either unemployed or under-employed. Up to this point, financial relief measures from government have cushioned the blow for many people, but with JobSeeker supplements and JobKeeper payments now reduced and set to end completely in coming months, the recession we are in and the damaging effects of the COVID-19 pandemic will be with us for a considerably time, regardless of developments into finding a vaccine".

CORPORATES
ROY MORGAN LIMITED

Roy Morgan Business Confidence down 1.2pts to 83.1 in August – Confidence lowest in Victoria (76.1) and Queensland (77.0)

Original article by Roy Morgan
Market Research Update – Page: Online : 8-Sep-20

In August 2020 Roy Morgan Business Confidence was down 1.2pts (-1.4%) to 83.1. Public Administration & Defence and Transport, Postal & Warehousing are the only industries with Business Confidence in positive territory above 100 over the last two months – Public Administration & Defence (123.4) and Transport, Postal & Warehousing (114.4). Industries with above average confidence included Property & Business Services (92.2), Education & Training (91.6), Wholesale (89.4), Agriculture (88.9), Manufacturing (87.1) and Construction (86.0). Industries with confidence below average included Community Services (73.8), Recreation & Personal (68.0), Retail (63.5), Mining (62.8) and Finance & Insurance (57.5).

CORPORATES
ROY MORGAN LIMITED

Business Confidence jumps in May, up 13pts to 89.9 – highest in Western Australia & South Australia

Original article by Roy Morgan
Market Research Update – Page: Online : 9-Jun-20

In May 2020 Roy Morgan Business Confidence was up 13pts (+16.7%) to 89.9 and recovering significantly from the record low reached in April. Michele Levine, CEO of Roy Morgan, says: "For the first time in 2020 a majority of 50.5% of businesses expect the business will be ‘better off’ this time next year. The turnaround has been quickest in SA & WA. However, for the Australian economy to really get moving, the Governments of NSW and Victoria must improve their low Business Confidence by encouraging businesses to invest and seek opportunities for growth in the year ahead."

CORPORATES
ROY MORGAN LIMITED

Federal Court’s ruling on casual employees set to have impact on hundreds of thousands of businesses says Roy Morgan CEO Michele Levine

Original article by Michele Levine
Market Research Update – Page: Online : 4-Jun-20

The business community and union movement must come together and reach an equitable solution about how to handle the implications of the decision in the interests of a healthy Australian jobs market. The biggest direct impact is that businesses will be deterred from hiring casual employees. Businesses mentioned ‘double-dipping’ and that ‘casual workers already get a 25% loading for sick pay and annual leave’. In addition as many as 123,000 businesses say they will be ‘forced to close’. The reluctance to hire casual employees is a troubling development in an economy which has experienced over a million job losses due to the COVID-19 pandemic. Prime Minister Scott Morrison has flagged working with unions and businesses to re-boot the Australian economy after the pandemic, but the impetus must be driven by business and union leaders to succeed.

CORPORATES
ROY MORGAN LIMITED,AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

794,000 businesses affected by casual employee ruling

Original article by Roy Morgan
Market Research Update – Page: Online : 3-Jun-20

A special Roy Morgan SMS survey of 881 Australian businesses shows that 34.5% are set to be affected by the Federal Court’s ruling on the entitlements of casual employees. Most worryingly, as many as 123,000 (5.5%) businesses say they will be ‘forced to close’ because of the ruling. A majority of small businesses (54.5%) with 5-19 employees and medium businesses (54.5%) with 20-199 employees say they will be affected by the ruling in some way. Over a third of large businesses (36%) with 200+ employees and just under a third of micro businesses (32%) with 1-5 employees say they will be affected by the ruling in some way. Roy Morgan CEO Michele Levine said the Federal Court’s ruling on casual employees has the potential to have a significant impact on hundreds of thousands of Australian businesses.

CORPORATES
ROY MORGAN LIMITED, FEDERAL COURT OF AUSTRALIA