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In a survey of more than 500 SMEs across Australia and New Zealand, Findex found:
- Looking back, businesses found the second year of the pandemic more disruptive than the first:
- A third (32 per cent) said they were “significantly impacted” by the pandemic this year, up from a quarter (25 per cent) in 2020
- Looking forward, business confidence for the year ahead has also dropped:
- Only two in five (40 per cent) businesses say they feel confident about the future outlook, dropping from 1 in 2 (52 per cent) in 2020
- However, two thirds (64 per cent) of businesses estimate things will be “back to normal” in six months
- SMEs were reliant on government support this year to survive – and fear for their future – as this support scales back:
- 7 in 10 businesses said Government economic support packages had been important to the survival of their business
- 6 in 10 businesses predict that winding back government assistance will have an impact on their business
- Only a third (30 per cent) of businesses are in the process of developing or implementing business continuity plans (BCPs).
For more information and data, please see the Findex ‘When Worlds Collide: Small Businesses Meet Post-Pandemic Life’ report.