Business confidence up, but safety net still needed

The Business SA – William Buck Survey of Business Expectations (SOBE) for the December Quarter was released this week and featured in The Advertiser this week.

The survey results showed that business confidence continued to climb, despite losses associated with the Parafield Cluster shutdown in November and associated restrictions into early December.

Business confidence has jumped to 108.3 points, up 13 points from the September quarter of the survey.

It is great to see that business confidence in South Australia continues to build despite ongoing uncertainty around COVID-19. With vaccinations now underway, we hope that uncertainty will soon ease further.

We do however recognise, which is apparent in the survey results, that a group of SA businesses remain materially impacted by ongoing COVID-19 restrictions with 15 per cent of respondents to the survey reporting their turnover remains down by more than 50 per cent.

Business SA has been a consistent advocate for a targeted and more nuanced support scheme for South Australian businesses still hit hard by COIVD-19. The December quarter reinforces that further support is needed.

We continue to encourage the State and Federal Governments to consider all options available and continue some form of safety net for business owners and their employees whose livelihoods remain under threat and are likely to for some time yet.

These December quarter survey results nonetheless demonstrate that we have reason to be positive about 2021.

We thank all our Business SA members, as well as our non-members, for their valuable contribution to this survey.

To read the results of the December quarter Business SA – William Buck Survey of Business Expectations, please click here

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