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Business confidence drops

Business confidence drops

Small Businesses soilder on

Many small business in Hamilton, Portland and across the south-west region are struggling amid the coronavirus pandemic.

In fact, Sensis reports small business confidence has seen the fastest drop in survey’s 25-year history.

Sensis CEO John Allan says Confidence fell from positive 40 on 10 March to negative 13 on 24 March.

Mr. Allan says,

“Australia’s small businesses were feeling the squeeze before the impact of the Coronavirus hit. “But the massive fall in confidence in just a matter of 14 days, while not a surprise, was the fastest drop in the 25-year history of the survey”.

By the third week of March, 32% had seen a severe impact, 35% had seen some impact and 26% were expecting an impact.

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“The extraordinary speed of the change in confidence is not something we’ve ever witnessed before; it was as if a speed train had hit the majority of small-medium businesses in Australia with 47% surveyed now worried about the future” says Allan.

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