Half of all respondents to the seventh annual BDO State Enterprise Survey have expressed confidence within the development of SA’s economic system, up from 20 per cent in 2019.
Simply 4 per cent imagine the economic system goes backwards, based on the survey, the bottom degree because it started and down from 23 per cent final yr.
An extra 46 per cent imagine the economic system is neither rising nor going backwards, however appears to be stagnating – an 11 per cent lower on final yr’s outcomes.
Responses additionally present a enterprise group that has fared higher than anticipated through the occasions of 2020, has managed to retain workers and expects to take action within the coming yr.
“We had two months of great downturn, beginning mid-March, however since mid-Might, our fortunes have swung the opposite manner and we are actually experiencing document gross sales,” a respondent from the retail sector mentioned.
One other survey respondent mentioned: “The general affect was lesser than anticipated and the restoration has been far faster than hoped.”
A bit of over half of respondents reported that the affect of COVID-19 on their enterprise up to now has been higher than anticipated in February 2020 and 55 per cent say they aren’t presently receiving or collaborating in any type of authorities help.
Unsurprisingly, 32 per cent of these nonetheless requiring help measures are receiving JobKeeper assist, adopted by payroll tax aid at 8 per cent.
Of these presently receiving JobKeeper, 58 per cent have lower than 5 staff and 26 per cent have an annual turnover of $250 thousand or much less – making our smallest companies probably the most reliant on a measure that is because of finish in March 2021.
Whereas there was a lot dialogue concerning the affect that the tip of JobKeeper can have on these small companies, the vast majority of respondents (55 per cent) predict workers numbers to remain the identical over the approaching 12 months.
About 36 per cent are even anticipating headcount to extend – which is nice information and an extra signal of optimism amongst enterprise homeowners and leaders.
In maybe the most important present of constructive sentiment among the many SA enterprise group, most respondents are anticipating a rise in each turnover and income over the following 12 months – 51 per cent and 45 per cent respectively.
Outcomes from this yr’s survey are portray the image of a South Australian enterprise group that’s optimistic and feeling assured about our financial restoration – one thing we are able to all be ok with on the finish of a troublesome yr.
Keep tuned for additional outcomes over the approaching fortnight and go to bdo.com.au/sasbs to register to obtain a replica of the total report when it’s launched.