Confidence Falls

The latest CCIQ survey has shown business confidence in Queensland declining for the first time since the start of the pandemic.

Even more concerning, close to 45% of businesses are now reporting mental health challenges because of COVID-related stress.

CCIQ’s report for the June quarter, a period which coincided with two South East Queensland lockdowns, shows confidence in the Australian economy over the coming year falling by 5.5 points.

The survey also shows nearly half of all businesses indicating their profitability declined in the three months to June with respondents ranking limited demand and political/economic uncertainty as the two most significant constraints on business growth.

Brisbane North Chamber of Commerce President Simon Penrose said the CCIQ survey reflected what he was seeing on the ground.

“Faced with rising costs and falling demand, many are finding it hard to pay wages and keep the doors open.

“Businesses are hurting, struggling to hang on, and the thing they fear most is another lockdown.

“Now’s an important time for members of our own chamber to remember to look out for and check in on one another. Also, for anyone who needs help please remember that Lifeline provides 24-hour personal crisis support on 13 11 14,” he said. 

Click here to view CCIQ’s full June pulse survey report including regional breakdowns.