Resilience of Australia’s SMEs highlighted in survey
October 2th, 2020 – While it is undeniable Australia’s SMEs are facing an incredibly challenging period, which may understandably make it hard to focus on the future, research from OnDeck Australia has revealed a streak of resilience through the country’s small businesses.
While around just under nine out of ten (86%) SMEs have already been impacted by the pandemic, with 92% expecting COVID to have a ‘negative’ impact on their business in the future, many organisations have insisted on optimism nonetheless.
One in five (17%) of those surveyed expect to recover within three months, with a further 33% hopeful of recovering within six months. For 29% of SMEs, the process could take between nine and 12 months – meaning an overwhelming 80% of small businesses expect to be back on their feet within one year’s time.
Written by Austrialian Broker
Related Post
Micro and small businesses can act...
In an international context where conflicts have reached their highest level since the Second World War, what role can micro, small, and med...
Celebrating Women Entrepreneurs: Key Insights from...
According to the GEM 2024/2025 Global Report entitled Entrepreneurship Reality Check, far too many women entrepreneurs are still seen by nat...
SME Digitalisation to manage shocks and...
Although uptake of digital practices by SMEs continues to increase, so too has the “digital gap” with larger firms. Understanding the dr...
