Did we dent our confidence?

By Business SA, Chamber of Commerce and Industry Chief Executive, Martin Haese.

Published in The Advertiser SA Business Journal on Tuesday 13 July 2021.

Is the prospect of a lockdown enough to rock the business community’s confidence? I think not.

If I have learned one thing over the last 16 months, it is that the business community is resilient and up to almost any challenge it is faced with.

Although I cannot say with 100 per cent certainty, I am hopeful that the June Quarter Business SA - William Buck Survey of Business Expectations will soon demonstrate the continued hard work of South Australian businesses and show that business confidence remains high coming into the new financial year.

The quarterly survey, undertaken by Business SA in a valued partnership with William Buck is instrumental in defining the policy and advocacy positions that Business SA presents to all levels of government, to ensure that South Australia remains a great place to do business.

Our March quarter survey outlined that although general business conditions had skyrocketed, landing 16.2 points higher than the December quarter, 16 per cent of businesses remained more than 30 per cent down on their pre COVID revenue.

Just over one week on from the return of lighter restrictions in South Australia, my discussions with business owners are still positive. Yes, many were rattled by the onset of restrictions once again, particularly those in the hospitality industry, but the State’s preventative response to the possibility of a COVID outbreak gave owners a degree of confidence that we will not find ourselves in the situation we have seen New South Wales in recently.

While I am not expecting to see a climb in confidence like we saw in March, confidence should remain stable.

Business owners, 16 months along from the onset of the pandemic have learned to be prepared. While hoping for the best, more and more are preparing for the worst by redefining their businesses to be able to quickly adjust should restrictions or closures return, underpinning the grit and determination of South Australia’s business community.

I now encourage for all of South Australia’s business leaders to visit the Business SA website and become part of the collective business voice in our State, by completing our short survey of business expectations. In doing so, you are ensuring that your business is being represented at the highest levels when we advocate on behalf of the entire business community.

Business Now, the Business SA - William Buck Survey of Business Expectations can be completed at www.business-sa.com/businessnow