CCIQ's Response to COVID-19
At CCIQ we recognise this is a time of uncertainty, concern and stress for Queensland businesses, managers and their staff.
We are working with governments on all levels to report on the impact COVID-19 is having on business and to provide advice and guidance on how to best support them.
We are collating and keeping all information relating to business support, resources on our website. We are updating the page daily as new information becomes available. You can find it here.
Current available support
Both the State and Federal Governments have announced support to SMEs.
Further stimulus packages are expected and CCIQ is working with state and federal governments to ensure business needs are front and centre.
Due to the ongoing and ever-changing nature of this situation, it is difficult to put a figure on what the ‘actual’ financial impact will be.
We know the impact on industries such as tourism and exports which are crucial to Queensland’s economy was immediate, but the effect is now being felt far and wide.
The priority needs to be on helping businesses survive and keep operating so they can keep staff employed and be able to contribute to their local economy once the crisis is contained.
How are businesses being affected
Most businesses in Queensland will now or will soon be impacted by the coronavirus.
Initially, we know the immediate impact was to tourism and exports, but it is rapidly expanding.
The range of issues is staggering. Some impacts are direct due to customer demand, but that flows on to many other businesses.
Some issues we are hearing include:
Decrease in customers
Supply chain issues- Delays in products arriving, accessing products expected from China
Buyers holding back, reserving purchasing decision
Cancellation of orders/tours/bookings- the flow on from that is far and wide, printers who print brochures are having orders cancelled, pet boarding companies don’t have bookings coming in
As festivals and events are being cancelled/postponed staging operators and transport operators are losing business.
And as we know it is rapidly changing.
What percentage of businesses could disappear as a result of this pandemic?
Again, that is difficult to put a number on, what we do know is that Queensland has the highest number of businesses going into insolvency arrangements last year.
We know that supply and demand alongside operational issues will impact the viability of some businesses. Our focus is on supporting business to keep their doors open and their staff employed through practical resources, support and our advocacy to all levels of government.
What is CCIQ doing to support business
CCIQ is here to support SMEs businesses, we do have information and resources available.