9 Jun 2009

Businesses in survival mode - bank survey

4:35 pm on 9 June 2009

ANZ Bank says businesses are operating in survival mode during the economic downturn, but cannot afford to lag behind with long-term planning.

The bank's latest privately owned business barometer shows short-term confidence and growth expectations have fallen sharply in the past 12 months.

ANZ says that is not surprising given the current economic conditions.

The annual survey focuses on businesses with an annual turnover of between $5 million and $150 million.