Half of all respondents to the seventh annual BDO State Enterprise Survey have expressed confidence within the development of SA’s financial system, up from 20 per cent in 2019.
Simply 4 per cent consider the financial system goes backwards, in accordance with the survey, the bottom degree because it started and down from 23 per cent final yr.
An extra 46 per cent consider the financial 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 throughout the occasions of 2020, has managed to retain employees and expects to take action within the coming yr.
“We had two months of serious downturn, beginning mid-March, however since mid-Might, our fortunes have swung the opposite method and we are actually experiencing report gross sales,” a respondent from the retail sector mentioned.
One other survey respondent mentioned: “The general impression was lesser than anticipated and the restoration has been far faster than hoped.”
A bit of over half of respondents reported that the impression of COVID-19 on their enterprise to this point has been higher than anticipated in February 2020 and 55 per cent say they don’t seem to be at the moment receiving or collaborating in any type of authorities help.
Unsurprisingly, 32 per cent of these nonetheless requiring help measures are receiving JobKeeper help, adopted by payroll tax aid at 8 per cent.
Of these at the moment receiving JobKeeper, 58 per cent have lower than 5 workers and 26 per cent have an annual turnover of $250 thousand or much less – making our smallest companies essentially the most reliant on a measure that is because of finish in March 2021.
Whereas there was a lot dialogue concerning the impression that the tip of JobKeeper could have on these small companies, the vast majority of respondents (55 per cent) predict employees 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 additional signal of optimism amongst enterprise house owners 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 earnings 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 tricky yr.
Keep tuned for additional outcomes over the approaching fortnight and go to bdo.com.au/sasbs to register to obtain a duplicate of the complete report when it’s launched.