Despite the ongoing economic and political uncertainties, the findings of this research suggests that employers are confident in their ability to grow and expand their operations this year.
SME financial indicators all decreased in November, and confidence in local and global economic conditions remained very low.
The economy is hard to measure. Today, the Australian Bureau of Statistics (ABS) released GDP data showing that Australia’s economy has been spared from a “technical” recession this quarter, with economic growth over the last four months sitting at 0.7%. However, this definition of a recession is flawed in its reliance upon a single data […]
Australia is no longer in a recession and economic growth is predicted to continue into the December quarter. On Wednesday, the ABS revealed a 3.3 per cent growth number for the September quarter, which is the highest quarterly figure since 1976. This figure would have been higher if there was no second wave in Victoria. […]
The ABS confirmed Australia’s first recession since 1990 after recording two consecutive quarters of economic decline. After being hammered by the pandemic, bushfires and drought, Australia’s GDP plunged by 7 per cent in the April-June quarter. This follows a 0.3 per cent fall in the previous quarter. The 7 per cent fall is also the […]
As end of JobKeeper approaches, here’s two essential actions small business owners must master to survive 2020. This July sees one of the toughest starts to a new financial year in decades, with small business owners bearing the brunt of the impact. Scottish Pacific CEO Peter Langham said as business owners put together new contingency […]
It’s been almost 30 years since Australia last experienced a recession and almost 10 years since the country recorded a negative GDP growth, which was back in 2011 when the Queensland flooding and Cyclone Yasi hit. With the latest downturns in Australia’s quarterly GDP reports, as well as the economic effects of the pandemic, the future […]
With speculation that hundreds of businesses – dubbed ‘zombie businesses’ – are being propped up by Government stimulus and will potentially fold in September, new figures suggest that the problem could we bigger than we anticipate. New research reveals: 62 per cent of SME business owners have been on the brink of folding their businesses […]
The JobKeeper scheme has done incredibly well in terms of protecting many jobs and livelihoods, but it fails to address the looming problem of incoming redundancies and folding businesses. COVID-19 has significantly changed the business landscape. September (when the scheme ends) will look extremely different to this year’s February, which now seems to be in […]
Australian SME owners are bracing for an imminent recession, inflicted by the global coronavirus pandemic. Our recent survey of SMEs revealed that, in response to the virus, 66 per cent are concerned that we will experience a recession in Australia, and 62 per cent believe the severity of this will be the worst downturn Australia […]
