Back to Listing
Business confidence up, we're not surprised
16 June 2014
Recent Roy Morgan research analysis has shown ‘Westpac has the most confident business customers among the big four banks’. The finding hardly surprises me having worked closely with women in business and women in general for years now.
I know that to feel confident in business you need to know and be known by your bank and to feel supported by it in your business decisions. For me that confidence comes from the depth of the relationship and the service you provide people.
My knowledge of women entrepreneurs, especially, has shown me that when women make any financial decisions, be they personal or business related, they want information and access to knowledge. By providing that before they are even aware they may need it – especially through networking – the women I know and meet certainly express feeling confident to me. Knowing that about women I feel confident to say that on a wider level all our customers must be feeling pretty confident… and then we get this confirmation from Roy.
What business is saying
“In the three months to May 2014, the business customers of Westpac had the highest confidence level of the Big Four with 128.3, followed by the ANZ (121.4), CBA (113.6) and NAB (108.8). These are the latest findings from the Roy Morgan Research Business Survey of approximately 13,000 businesses per annum.
“Westpac’s score of 128.3 was well above the overall business confidence average of 118.6 for the three months to May 2014. The main reason for this strong performance was to do with their business customers’ very positive feeling regarding economic conditions in Australia over the next 12 months and five years.”
According to Roy Morgan, business confidence is more relevant for financial institutions when measured at the individual bank customer level. Ultimately, it says, how a bank’s customers feel about the economy and the associated outlook for their business will be the best indicator of whether they are likely to borrow for business growth and development.
Women in business are no different.