Most SMEs point to this factor as critical to their recovery
July 24th, 2020 – Research from SME lender OnDeck Australia found that 57 per cent of SMEs say access to cash flow will help them recover from the COVID-19 pandemic.
It found 69 per cent of SMEs with six to 49 employees say cash flow is the main factor behind their recovery, compared with 49 per cent of sole traders.
Further, 62 per cent of SMEs with annual turnover above $200,000 believe cash flow is critical to recovery, compared with 52 per cent of businesses with turnover below $200,000.
OnDeck Australia national broker channel manager Robbie Fidler said the findings demonstrate that Australia’s small-business community may win the battle for survival against COVID-19, but without the cash flow to rebuild, many could lose the peace.
Written by My Business
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