Increased optimism by businesses bouncing back from COVID
The NSW Small Business Commission continues to monitor and listen to feedback from small businesses through our survey about the impact of COVID-19. And the latest results show there’s increased optimism across the sector.
The survey results from early November show there are significantly greater levels of confidence with the majority of participants stating they are fairly to extremely confident about their future.
There has been an increase in the number of businesses who have experienced increased revenue compared to the same period last year.
Businesses are more positive about the ability to pay rent and loans and temporarily closed businesses are more optimistic about the time needed for them to recover and return to pre-COVID levels.
The survey found the has been a significant jump in the number of small businesses establishing or expanding their business online.
And while businesses continue to employ less staff that they did in January this year, the size of this decline has reduced.