Geelong businesses optimistic about the future

GEELONG firms have shown strong confidence in their future, with about three-quarters expecting business to increase this financial year, a survey has found.

At the same time, nearly 40 per cent of Geelong businesses say they are likely to employ additional staff.

The survey results have been held up as proof of the resilience of local businesses, especially in the light of recent blows such as the clos- ure of Alcoa and the winding up of local car manufacturing. In other results, the survey found that 43 per cent of respondents had a medium level of confidence in Geelong’s business environment, while a further 30 per cent had a high degree of confidence.

Seen as the first comprehensive local survey of business views and attitudes, the survey was produced by Geelong Chamber of Commerce and Deakin University’s Business School.

The chamber will officially release the report at its Corporate Partners’ luncheon today.

Chamber president Kylie Warne said the survey found three-out-of-every-four businesses in the Geelong region expected to improve their financial position in 2014-15.

“Our study discovered 71 per cent of organisations expect their own business activity will increase this financial year, at the very least,’’ she said.

“Statistically, this could be as high as 77 per cent of all Geelong businesses.’’

Deakin University Business School Associate Dean Professor Barry Cooper said this was the first survey of its type in Geelong.

Committee for Geelong CEO Rebecca Casson said the survey would complement the work being done by the committee for its Transforming Geelong document. “The document highlights the transformational projects that were happening in Geelong at the moment,’’ Ms Casson said.