The top issues facing small building and construction businesses
To provide more tailored support to small businesses in the built environment we have developed a Small Business Insights Report.
The Cbus Small Business Insights Report is based on a survey of Cbus employers conducted in December 2018, incorporating the voice of more than 900 Australian small businesses working in the building and construction industry.
Initial insights have identified small building and construction businesses appear to be doing well, despite headwinds in the residential construction sector, with many businesses providing positive feedback.
Around 40% of businesses reported that their circumstances had improved in the 6 months to December 2018 and only 13% reported deteriorating conditions.
Key reasons for this include an overall increase in turnover over the 6 months to December 2018, increased staff hiring and improved cash flow. Businesses with more than 20 employees were more positive when looking back on the last six months.
For the following 6 months (to June 2019), almost half (46%) of the businesses said they expect business conditions to improve with only 6% expecting conditions to deteriorate over this period. Around two-thirds (63%) of businesses expect to hire more staff and nearly half (44%) of businesses expect turnover to increase.
Despite the positive outlook, small businesses face some pressing business issues, including finding new work and skilled staff. Other significant issues included managing cash flow, managing administration and paper work, as well as collecting accounts receivable.
View the full report (PDF) to see how your business compares to other small businesses and find valuable insights for your business.