
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
SME Performance Review: the Annual Report...
Despite ongoing economic headwinds and geopolitical uncertainties, Europe’s 26.1 million SMEs continue to demonstrate remarkable resilienc...
How small businesses can navigate global...
Micro, small, and medium-sized enterprises represent the vast majority of businesses worldwide and are vital to global employment, yet they ...
Equipping SMEs with the skills to...
SMEs and entrepreneurs heavily depend on skills to stay competitive and face greater challenges than larger firms in accessing and retaining...