happy-business-person-open-for-business-feature
Image – Canva.
  • ABS survey covered business concerns and Covid impacts
  • 78% reported either no change or increased revenue
  • 20% of business stopped accessing support measures since end March

The Australian Bureau of Statistics (ABS) released its latest business conditions and sentiments results today.

Previously called business indicators, business impacts of COVID-19, the report measures monthly trading conditions.

The ABS said for the month of May, “Most Australian businesses reported stable trading conditions in May,”.

“more than three quarters (78 per cent) experiencing either no change or an increase in revenue,”

Australian Bureau of Statistics

ABS Head of Industry Statistics, John Sheperd, said “[the survey] showed that while fewer than one in ten businesses (8 per cent) expected their revenue to fall in June, some businesses were still recovering from the effects of the COVID-19 pandemic.”

Changes in revenue, July 2020 to May 2021 (a)(b)
Source – ABS.

The ABS survey also asked businesses what they did after they stopped accessing support measures.

Actions taken as a result of support measures ending, compared to expected actions reported in March
Source – ABS.

These numbers come as Victoria enters yet another lockdown, following the doubling of local cases.

Effects are yet unknown, but like previous lockdowns, it is likely the impact will be hard.

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