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Positive momentum continues with 41% of SMEs reporting higher revenues in September

The Wave 19 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: “In summary, confidence is continuing to improve as business conditions and revenues increase. However, it is concerning to see a bounce in job losses now that the JobKeeper payments have reduced. Let’s hope the proportion of SMEs hiring continues to trend up to counter any further losses amongst those SMEs battling through these difficult times.”

Some of the highlights this week are:

  • 41% reporting higher revenues in September, than in August
  • 37% expecting higher revenues in the next 4 weeks
  • 38% reporting COVID related job losses up from 31% in September
  • 15% 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 11th October 2020.

Author: James Organ, ACA Research

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