Best Business Conditions Since Pre-GFC

The Business SA – William Buck Survey of Business Expectations for the March Quarter 2021 was released yesterday.

The survey results showed that business conditions have continued to climb despite restrictions, closed international borders and a lack of skilled workers.

Business confidence has continued its upwards trajectory climbing 5.7 points to 114, a whopping 73 points higher than the March Quarter in 2020, at the start of the COVID-19 pandemic.

Further, business conditions reached 116.8 index points, a level not seen since before the GFC in 2008.

It’s great to see that one year on from the onset of the COVID-19 pandemic that the majority of businesses reported at least 100 per cent of pre-COVID revenue by the end of the March quarter and their highest sales and revenue in three years.

We continue to recognise that a group of SA businesses remain materially impacted by ongoing COVID-19 restrictions and closed international borders with 16 per cent down at least 30 per cent on pre-COVID revenue and 8 per cent down more than 50 per cent.

Business SA continues to advocate to the State Government for targeted and more nuanced support schemes that will further assist heavily impacted businesses, including payroll tax relief.

We thank each and everyone one of our members for their ongoing support of the Business SA – William Buck Survey of Business Expectations, and for their invaluable contribution in completing our survey.

These results assist us in forming Policy and Advocacy positions that are presented to State and Federal Government on behalf of the South Australian business community that represent their collective positions.

To learn more, download the report on the link below or visit the Business SA website.

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