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Articles by Adrian Chugg
From cost squeeze to tax shock: business confidence under pressure Original
The June 2026 quarter Survey of Business Expectations shows some relief after a very weak March quarter, but no one should confuse a bounce from a very low base with strength when it comes to business confidence. Cost of doing business remains the top concern, followed by profitability, government policies and compliance plus broader economic factors. Inflation is still biting, especially for businesses unable to pass on higher costs quickly or in full.
From cost squeeze to tax shock: business confidence under pressure
A Word from William Buck: By Adrian Chugg, Managing Partner, William Buck The June 2026 quarter Survey of Business Expectations shows some relief after a very weak March quarter, but no one should confuse a bounce from a very low base with strength when it comes to business confidence. Cost of doing business remains the top concern, followed by profitability, government policies and compliance plus broader economic factors.
From a low base to cautious optimism: SA business confidence lifts but pressures remain
By Adrian Chugg, Managing Director of William Buck Confidence among South Australian businesses has stepped up again this quarter, with general business conditions and sales also improving. While that’s a welcome change of tone, it’s very much an improvement off a low base, not a wave of unchecked optimism. The big issues haven’t gone away. Cost of doing business remains the stand-out concern, especially wages, materials and energy.
Costs bite and talent is tight: why retention is the new growth strategy
In the December 2025 quarter Survey of Business Expectations, business confidence has fallen, with a steeper dip for the national economic outlook. General business conditions have improved slightly, however the cost of doing business and profitability remains the biggest concern, closely followed by compliance burdens and concerns around the wider economic environment. Perceptions of the national economy may be coloured by conditions across the border.
From a low base to cautious optimism: SA business confidence lifts but pressures remain
Confidence among South Australian businesses has stepped up again this quarter, with general business conditions and sales also improving. While that’s a welcome change of tone, it’s very much an improvement off a low base, not a wave of unchecked optimism. The big issues haven’t gone away. Cost of doing business remains the stand-out concern, especially wages, materials and energy.
Confidence is creeping back: now it’s about margins, discipline and doing more with less
After several flat quarters, South Australian business sentiment has nudged higher – but it’s arriving alongside a different kind of pressure. As inflation has reduced, it’s much harder to pass cost increases through to customers, while overheads and wages continue to increase. When inflation was running hotter, price rises were easier to justify. Now inflation has cooled and customers are pushing back. The result is a tight squeeze on margins and a sharper look at costs and productivity.
Business struggles continue, but local growth can shine through
The verdict is in, and businesses are struggling. Profitability, as measured by the South Australian Business Chamber in its Survey of Business Expectations for the March quarter of 2025, declined by 15.5 index points to now be 70.1 points (a neutral score is 100). This is the lowest profitability score recorded since the early days of Covid in March 2020. This outcome coincides with the costs of materials and the cost of overheads rising for more than three quarters of businesses surveyed.
SA business confidence up slightly, but certain costs still bite
South Australian business confidence rose by a reasonable 7.5 points in the December quarter of 2024, despite business costs continuing to climb. According to the South Australian Business Chamber’s Survey of Business Expectations, released today, South Australian business confidence has risen to its highest level since March 2023. But, lingering high costs of doing business reflects a more challenging operating environment for many South Australian Businesses.
South Australian businesses caught between regulation or growth
South Australian Confidence rose a marginal 3.4 points in the September quarter as businesses face unprecedented compliance demands. According to the September quarter Survey of Business Expectations released today, compliance issues have surged in importance for businesses, ranking as the third-most pressing challenge after profitability and the cost of doing business.
A change in mindset is needed to improve productivity
The June quarter Survey of Business Expectations results released today underscore a concern I’ve frequently encountered: South Australia is grappling with a productivity problem. For years, labour shortages have been a significant issue, hindering businesses from reaching their full potential.
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