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Green shoots for SMEs despite weak revenue & employment data

MEDIA RELEASE: September 30 2021: As expected, the downward trend in SME revenues has continued. 57% now report lower revenues due to the ongoing lockdowns and restrictions with the average SME reporting a decline of 22%, compared to 17% in August. SMEs in all States are impacted, but in NSW more than two-thirds report lower revenues with the average decline rising to 30%.

The ongoing lockdowns are now impacting employment with 33% of SMEs reporting lower staff levels due to COVID, whilst the proportion of SME’s now recruiting sits at 21% compared to 32% reported in July. Despite less SMEs recruiting the level of difficulty has remained high with the lack of candidates applying, indicating Government support may be a disincentive to apply for paid work.

The COVID-19 SME Tracker is conducted by leading business market research firm ACA Research in partnership with Ovation and tracks the impact of COVID-19 across more than 400 small and medium enterprises each month.

 

Join James Organ and Steve Nuttall at Fifth Quadrant & ACA Research as they discuss the latest key insights and implications from the Tracker on October 7th at 12:00pm AEST.  Please click here to register.

Website: ACA Research

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