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Stronger revenue & jobs data drives SME sentiment higher

The Wave 20 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, sentiment amongst SMEs is ramping up with strong revenue and jobs data signaling a boost for the Australian economy as we approach the Christmas period.

“The reduction in JobKeeper payments and other stimulus programs does not seem to have dented confidence as SMEs continue the road to recovery. While other countries struggle to contain the COVID-19 pandemic, it is fantastic to see Australian SMEs increasing recruitment and investment activity to drive growth.”

Some of the highlights include:

  • 59% reporting declining revenues, compared to 69% in the previous wave
  • 45% expecting Pre COVID revenues by the end of 2020
  • 26% reporting COVID related job losses, down from 38% in September
  • 18% 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 25th October 2020.

Author: James Organ, ACA Research

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