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
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