The 2018 Hills Business Performance and Sentiment (PSI) Survey has been completed. It’s the 4th consecutive year the survey has been conducted, so it’s now enabling a comparison of performance and sentiment over time – how we’re doing and feeling about business in the Hills, and whether it’s improving or declining from year to year.
What is the PSI?
The PSI is asurvey targeting business owners and managers. It collects data on changes in earnings, expenses, staffing numbers and other factors, to measure business performance. It also gathers data on expectations of the future, and sentiment relating to various issues.
Commencing in 2015, the Hills District PSI is jointly commissioned by the Sydney Hills Business Chamber and the Hills Shire Council and produced by research firm, McCrindle.
What does the 2018 PSI tell us?
Mark McCrindle says that the 2018 results “highlight the success businesses are making of the challenging economic conditions. Once again, the strong sentiment of optimism marks local business leaders and is no doubt a key reason for the business resilience the study has found.”
Commenting in the report’s introduction, Sydney Hills Business Chamber Chairman Nigel Rayner noted the negative sentiment in relation to infrastructure in the 2017 and 2018 surveys and implies we may soon see that change.“With the Sydney Metro Rail project opening in 2019 and continued building and infrastructure development within and around the Hills region, it will be interesting to see the impact that these will have on businesses and the results of the next PSI survey in the Hills.”
To delve into the detail of responses on infrastructure, revenue, staffing, sentiment and more, you can visit www.hillsbusinesspsi.com.au and download the full report.
How many businesses participated?
Representatives of over 200 businesses completed the survey. Respondent businesses varied in size. 10% of respondents were non-employing, 33% micro (1-4 employees), 29% small (5-19 employees) and 15% medium to large with over 20 employees. And perhaps a sign of the times, 51% of responding businesses were home based.
The Hills District has a little over 20,000 businesses. 57% are sole traders, 32% micro, 9% small, and 2% medium to large.
If you’re a business owner or manager in the Hills District and didn’t participate in this year’s survey, keep your eye out for the 2019 survey. We’ll be announcing it in the Chamber NewsDesk. If you’d like to receive the Chamber NewsDesk and notification of upcoming events, simply complete the ‘Join our Newsletter’ box at the bottom of this page.