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Measuring the confidence and performance of small businesses across NSW

 

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

May 2021

 

Confidence is bouncing back for small businesses in NSW.

Business confidence

Business Confidence

 

52% of businesses are fairly or extremely confident about their business prospects, down from 3% in April 2020.

Future revenue

Future Revenue

 

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

Changes and Opportunities

 

75% have reconsidered their business model or tried to find new opportunities.

Overall Impact of Coronavirus

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 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

Business Confidence by Locality

 

Regional businesses are more optimistic than businesses in Greater Sydney.