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Positive momentum pushes SME confidence higher

The Wave 18 results for the COVID-19 Weekly Business Sentiment Tracker published by ACA Research in partnership with TEG Insights has been released.  

ACA Research, Managing Director, James Organ said: “Confidence amongst SMEs is growing across the country, with rising revenues and profits reported in September. This trend is predicted to continue as the number of cases drop and borders reopen.

This data is very positive bearing in mind the reduction in JobKeeper payments and the conclusion of other stimulus and support measures. It is now very important that any new COVID-19 outbreaks are contained to ensure SMEs have a clear pathway to recovery that will support job growth and business investment.”

Some of the highlights this week are:

• 44% expecting revenues to return to pre COVID levels before the end of 2020.
• 37% receiving JobKeeper payments, down from 47% last month
• 12% are currently hiring for new or replacement positions

Please click on this link for the summary blog or click on this link to access the full report including subgroup analysis by industry sector, size of business and State. 

Please note the data is from the week ending 27th September 2020.

Author: James Organ, ACA Research

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