Anyone looking to buy a business in Australia will likely need to garner a snapshot of how their desired sector – as well as the wider country – is performing before taking the plunge. Business conditions on a national level can often change due to myriad factors, so timing a purchase right may be tricky.
However, according to research published by National Australia Bank (NAB), the country's enterprises are currently performing admirably. In fact, NAB's business conditions index jumped to +11 at the end of August, its highest point since back in 2009.
What does this actually mean? Well, businesses across the country are experiencing trading conditions that are now ready and able to positively impact profitability.
Services sector leads the pack
The service and retail sectors are currently doing well, according to NAB. Both are leading the way and are experiencing positive conditions that are trending above the country-wide average. This will be good news for anyone assessing franchises for sale in either of those industries.
There appears to be good conditions across sectors that have not traditionally been focuses from an economic perspective. Typically, mining and natural resources have led the way, but more businesses in a number of different areas are now experiencing the benefits of good trading environments.
The consumer perspective
So, while NAB's findings are no doubt good news for existing and prospective business owners, what do Australian consumers think? Well, according to statistics jointly collated by ANZ and Roy Morgan Research, consumer expectations for the nation's economy improved across August and September.
While overall consumer confidence dropped a touch in the most recent statistics, it is trending well above the lows felt between 2008 and 2010.
Ultimately, business circumstances across the country look set to be in good health for some time to come, with those looking over businesses for sale likely to have good trading conditions once any purchase is finalised.