Queensland's business owners are positive about the future

The results are in, and it looks as though family and private business owners in Queensland are feeling pretty good about the future.

According to the latest MGI Australian Family and Private Business Survey, which was conducted by the Royal Melbourne Institute of Technology, over half (approximately 55 per cent) of the business owners operating in the sector "believe that their core marketing conditions will improve in the next 12 months".

Grant Field, who is MGI South Queensland's managing director, said the survey shows that business owners in the Sunshine State are not being blindly optimistic, either.

He explained that, over the past three years, almost 41 per cent of these family and private businesses have experienced increased profitability and market share conditions.

This sector is responsible for employing over 61 per cent of Queensland's workforce, so it's fantastic news all around that its businesses are seeing improvements.

In addition to this, Mr Field said that Queensland boasts the highest number of family and private business owners being approached to sell their businesses - about 45.5 per cent of those who responded to the survey revealed that this had happened to them.

The national average is 27.2 per cent.

The MGI Australian Family and Private Business Survey has been handed out to family and private business owners in Australia for almost two decades. This year 5,000 businesses took part.

The future may look bright for businesses in Queensland, but it still pays to be prepared for the unforeseeable.

One of the best ways you can do this is by organising a business insurance plan.

Whether you want to make sure you can keep your company going when disaster strikes with business interruption insurance, or protect your valuable assets with business property insurance, Elders Insurance is here to help.