Will NSW and Victoria SME’s thrive after lockdowns?

While it’s understandable to think that many business owners are languishing in lockdown, findings from a recent survey paint a very different picture.

The survey was commissioned by Corporate Traveller Australia, the SME travel provider and questioned an independent panel of 161 SME business owners in NSW and Victoria.

More than a quarter had not been impacted by the lockdowns at all, while 53% said they will focus on bouncing back when restrictions ease.

  • Corporate Traveller found that 28% of SMEs across the two states have not been impacted at all by the current lockdowns.
  • Among the 53% of SMEs that have been impacted but will bounce back after the lockdowns, most will focus on growing their sales, scaling their customer offering and recovering their internal resources to handle new sales.
  • Specifically, 42% of those surveyed said they will put more of their time, budget and resources into new customer sales, marketing or changing their sales model.
  • A fifth (20%) will mostly focus on changing or growing their product or service offering, while 19% will focus on bringing resources back into the business, such as “stood-down” employees.
  • Just 10% said they will focus on reducing business costs, downsizing and/or improving supplier arrangements.
  • Sadly, 19% of respondents said their businesses won’t come back.

It’s promising to see that SMEs across Australia’s two major states, which have been hit hard by lockdowns and restrictions, will proactively build their businesses back up after lockdown.

SMEs are the backbone of our economy and a renewed focus on thriving rather than surviving will be important in driving the country’s economic recovery.

Tom Walley, General Manager of Corporate Traveller Australia

Mr Walley also noted that a number of businesses have found a way to adapt to the changing landscape of Covid lockdowns, even finding ways to pivot and strengthen their businesses in preparation for challenging times.

I believe we’re likely to see businesses, even those that thrived during lockdowns, focusing on several areas to flourish and grow in a world beyond lockdowns and restrictions

Tom Walley, General Manager of Corporate Traveller Australia

SME business owners, I’d like to hear from you?  What are your post-lockdown business plans?  Do you have the right finance options in place to see your plans through?  Or are you part of the remaining 19% weighing up your options post lockdown and just want someone to talk through them?

I’m here to help – phone 1300 005 409 to chat with Bernadine today.

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