“In our December Business Conditions Survey, NSW businesses told us they were turning the corner following the ravages of the COVID-19 pandemic,” said Business NSW Regional Manager, Kellon Beard.

“The survey, conducted right across NSW, shows that business confidence was positive for the first time since June 2018, however much of the survey was completed prior to the Christmas lockdowns,” Mr. Beard said.

“What this survey clearly shows is the resilience and optimism amongst the business community in NSW.

“The NSW Government has done a good job in listening to business needs and responding as soon as possible by easing restrictions and opening up communities.

“However, since the survey results were finalised, we’ve heard from business owners on the Northern Beaches and in border communities about how quickly confidence can be eroded with swift decisions like lockdowns and border closures.

“The first quarter of this calendar year will be crucial for many businesses as a number of Government support packages are also reduced or come to an end.

“Despite overall increases in confidence, 23% of businesses claim they are at a high risk of failure when supports such as JobKeeper, tax relief, interest waivers and other measures conclude.

“This vulnerability will hang over the small business sector for much of the year and will need to be factored into decisions about withdrawing support measures.

“The other clear signal from our survey is that an increasing number of businesses are looking to expand their capacity to meet demand, with more businesses prioritising expansion than planning to downsize their business.

“However, businesses across the state and on the Mid North Coast are still reluctant to begin hiring, as taking on extra staff is still seen as an area of concern,” Mr. Beard said.

You can contact Kellon Beard on  0427 767 246