Turnbull boosts business confidence

Over 45% of businesses are more confident with Malcolm Turnbull as prime minister, with only 11% less confident, according to a new report from local services marketplace, ServiceSeeking.com.au. Many retailers back this report as they told Appliance Retailer that the change in leadership brought them relief and hope.

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Leading Appliances national group manager, Nick Fry was passionate in his support for the change.

“We urgently need political stability and consistent leadership, for the sake of business and consumer confidence. Hopefully Turnbull can provide the leadership, economic vision and reliability to restore confidence and build assurance.”

David Barke Appliances owner David Barke agreed saying the consumer electronics industry relies heavily on consumer confidence to drive sales, which “comes from stable government.”

“Our core staple products are closely linked to housing growth and as an industry we will benefit most from projects that result in housing growth and improved employment opportunities.”

ServiceSeeking.com.au CEO Jeremy Levitt said, “Businesses are relieved with the change in government on that basis and they will invest more and hire more employees over the coming months.”

Over 60% of businesses expect to increase their number of employees over the next 12 months. While 49% of respondents indicated that they would encourage others to set up a new business with Turnbull as leader.

The report collected survey responses from over 1,200 businesses across Australia to gauge an insight in to business confidence and economic sentiment this quarter.

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