Each month the Commission conducts surveys to measure the confidence and performance of small businesses across NSW.
The surveys track business challenges, performance, confidence, expectations, and awareness of government support.
Small Business Survey
Confidence is bouncing back for small businesses in NSW.
52% of businesses are fairly or extremely confident about their business prospects, down from 3% in April 2020.
27% expect their revenue to increase over the coming months, which is higher than the 18% of businesses that expect revenue to decrease.
Changes and Opportunities
75% have reconsidered their business model or tried to find new opportunities.
Overall Impact of Coronavirus
55% of businesses stated they have been negatively impacted, while 13% were positively impacted.
Businesses Reliant on Visitors and Foot Traffic
Businesses reliant on international and interstate visitors have significantly lower confidence in the economy and their business prospects. These businesses felt significantly more impacted by Coronavirus, when compared to business who don’t rely on foot traffic.
Business Confidence by Locality
Regional businesses are more optimistic than businesses in Greater Sydney.