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ABS: Businesses Expect COVID-19 Financial Impact to Continue

  • May 04, 2020 03:23 PM AEST
  • Team Kalkine

As per ABS survey on Business impact of COVID-19, 72% of Australian businesses reported that reduced cash flow is likely to have an unfavorable impact on businesses over the next 2 months.

  • 7 in 10 businesses (69%) expect reduced demand for goods and services.
  • 2 in 5 businesses (41%) anticipate a lessened ability to pay operating expenses
  • 61% of businesses had registered or wanted to register for the JobKeeper Payment program of which 73% expected more than half of their employees to the eligible for the scheme.
  • Businesses that did not expect to register for the JobKeeper Payment scheme, 55% reported that it was due to ineligibility of the business.
  • 7% reported not registering due to not enough cash flow to maintain paying staff before JobKeeper payments begin.
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