Majority of Australian businesses unaffected by high Australian dollar: survey

 Three quarters of Australia's small and medium sized businesses are either better off or unaffected by the high local dollar, a survey by The Executive Connection (TEC), Australia's leading chief executive officer (CEO) leadership organization, revealed on Tuesday.


In the survey of 300 senior business people, 41 percent said their businesses felt no impact from the high exchange rate, while 36 percent said it was a good thing.


The remainder, 23 percent, said their businesses were worse off due to the high local dollar.


"There has been a lot of negative sentiment expressed in the media about the strong Australian dollar and its affect on businesses, but these results highlight the flip-side," TEC Chief Executive Chris Gorman said.


"It's clear that many SMEs (small and medium enterprises) are actually enjoying the buying power of the Australian dollar and taking full advantage of the favorable conditions."


The survey also showed only 41 percent of respondents were concerned about the impact of higher Australian dollar in the coming months on their businesses.


Gorman said the volatility in the movements of the Australian dollar highlighted the need for businesses to be adaptable and flexible.
(Source:http://news.xinhuanet.com)