Lifting restrictions needed to save businesses and jobs: CCIQ

Monday 26 October, 2020 | By: Faith Jarvis

The latest Suncorp-CCIQ Pulse Survey of Business Conditions, a quarterly survey conducted to give a snapshot of business conditions in Queensland, found that while the momentum of recovery continued, the economy is stalled due to ongoing restrictions.

 

  • One in four business are experiencing improved business conditions compared to the June quarter;
  • One in three businesses indicated an increase in sales and revenue;
  • One-half of businesses are still experiencing a decline in their profitability; and
  • Nearly all surveyed businesses (99%) believe they could only survive up to 12 months when stimulus support ends.

 CCIQ economist Jack Baxter said that while overall business sentiment increased from the previous quarter, the forecasted trends are plateauing well short of a full recovery.

 “The results of the latest survey show businesses feel the recovery being experienced to date will be as good as it gets if there are no changes to current operating conditions,” Mr Baxter said.

 “Many small businesses are still experiencing a stimulus-driven recovery in sales and revenue, but ongoing restrictions are constraining their ability to manage costs and boost profitability.

 “One-half of respondents indicated their profitability continues to decline, despite a sharp improvement being recorded across the performance and cost indicators as business re-open.

 “This indicates that despite being open and trading, social distancing and patron limits put a cap on profitability and economic productivity.

 “And despite that decreased profitability, the crisis has not impacted their fixed operating costs. There’s still utility bills, rent and insurance to pay with deferred payments becoming due in the New Year.

“The concern for business is being expected to operate in these same conditions, with the same caps on their profitability, but without stimulus support. And that leads to no room for ongoing recovery,” Mr Baxter said.

 Mr Baxter flagged that the September quarter’s Hot Topic Survey raised the most  concern, with nearly all Queensland businesses now uncertain about their survival during the New Year as stimulus support ends.

 “When stimulus support ends, and when loan repayments, deferrals and tax breaks resume, businesses must be standing on their own two feet.

 “This is unlikely, as ninety-nine per cent of businesses indicating they are unsure of their ability to operate beyond 12-months without support, especially if current restrictions are not lifted,” Mr Baxter said.

 

CCIQ’s general manager of advocacy and policy said the September Quarter Pulse survey shows it’s now critical for restrictions on businesses to be eased.

“While it is positive to see sentiment improving slightly this quarter, our economy needs to see it increase further and it can happen by easing restrictions further,” Ms Rohan said.

“There are thousands of businesses still struggling, and they are worth billions to our economy.

“We’ve been calling for months to have restrictions eased further because enabling business to open up, while still operating in a COVIDsafe way will allow them to trade profitability.

“Additionally, this election we’ve called on all parties to commit to priorities that will support recovery but most importantly put the policy settings in place that will generate the demand required to transform, diversify and lift resilience of our businesses and communities in the short, mid and long term.

“Both the major parties have committed to working with CCIQ to progress our policy priorities for small business.

“What’s going to be most crucial in the months to come is the speed at which the next elected state government will deliver on their commitments.

“The fact is businesses need to be profitable. Because if they aren’t, they can’t keep their staff in jobs and they can’t keep their businesses operating. And when businesses close, people lose their jobs and our communities takes a hit.

“Queensland has the highest unemployment rate in the nation, the highest rate of business insolvencies and sluggish economic demand.

“The Christmas season is crucial for businesses, and we need to give them a real opportunity to fully open up and trade viably, so they can stay open and keep their staff employed,” Ms Rohan said.

 

Suncorp Executive General Manager Business Banking Glenn Haslam said businesses have had a challenging year however it’s pleasing to see that for the majority, business confidence is returning as restrictions ease.

 

“Whether it’s a cotton farmer in regional Queensland or restaurant owner on the Gold Coast, businesses across Queensland have shown their spirit and determination by adapting to meet their customers’ needs and changed circumstances this year,” Mr Haslam said.

 

“Although there is still a long way to go, as always Suncorp is there to help our customers get through these difficult times.”

 

ENDS

 

About the PULSE Survey

The Pulse Survey has measured Queensland business confidence and expectations quarterly for over 20 years. It is unchallenged in terms of being the most authoritative, timely and comprehensive snapshot of Queensland business sentiment providing critical insights into the opinions of business owners across the State. The Survey contains data from a sample covering the entire range of the business community.

The survey period was from the 1st to 15th of July 2020 and examines business sentiment and activity throughout the June quarter 2020. 1,167 participants responded to the Survey.

 

What is the Pulse Business Index? 

The Pulse Business Index (PBI) is Queensland’s most authoritative, timely and comprehensive snapshot of business sentiment. The PBI works by utilising the quantitative responses from businesses to questions surrounding the forward outlook for the state and national economy, and key performance indicators. A PBI reading of 50 would indicate that performance growth has remained neutral. On the other hand, a PBI reading above or below 50 would suggest that performance across the indicator has grown or fallen, respectively. The following scale is useful in interpreting the performance of the PBI indicator: 

Very Weak: 0-20 

Weak: 21-40 

Satisfactory: 41-60 

Strong: 61-80 

Very Strong: 81-100 

ENDS

 

The Pulse Business Index (PBI) is Queensland’s most authoritative, timely and comprehensive snapshot of business sentiment. The PBI works by utilising the quantitative responses from businesses to questions surrounding the forward outlook for the state and national economy, and key performance indicators. A PBI reading of 50 would indicate that performance growth has remained neutral. On the other hand, a PBI reading above or below 50 would suggest that performance across the indicator has grown or fallen, respectively. The following scale is useful in interpreting the performance of the PBI indicator: 

Very Weak: 0-20 

Weak: 21-40 

Satisfactory: 41-60 

Strong: 61-80 

Very Strong: 81-100 

ENDS

 

 

Post your comment

Comments

  • fall guys 25/02/2021 4:41pm (53 mins ago)

    an extraordinary article, With heaps of data in it, These articles help clients keen on the site, and keep on sharing more ... best of luck!

  • GD Goenka Public Public School 13/02/2021 8:43pm (12 days ago)

    Thanks for this useful blog, I found it informative and hope for more blogs in future from you like this.
    If you are looking best <a href="https://www.gdgoenkarohini.edu.in/">Schools in Rohini</a>, Delhi then you are at the right place. GD Goenka Rohini inviting application for the session 2021-22 for Pre-Nursery to Class XII. Access key Admission Insights and connect with GD Goenka Rohini on Admission 2021-22.

  • My Locals Listing 12/02/2021 5:42am (13 days ago)

    My Locals Listing is an online business platform that provides affordable SEO, SMM, Content Writing, Web Development, Graphic Designing, and many more services.

  • My Digital sketch 30/01/2021 9:34pm (26 days ago)

    If you are in retail company and also wants to scale your reach from regional market to an additional market, it is an opportunity to expand your profits & make your service brand name wider by getting to customers of other geographical areas. Obtain get in touch with us today and also obtain a suggestion of e commerce web design company noida cost from India. E-commerce Packages ranges from a Basic e-commerce website to complete solution with e-commerce mobile apps.

  • OMG카지노 30/01/2021 11:31am (26 days ago)

    play casino games online:

    https://www.bbdd66.com
    https://www.bbdd66.com/theking
    https://www.bbdd66.com/sands
    https://www.bbdd66.com/first
    https://www.bbdd66.com/yes
    https://www.bbdd66.com/super
    https://www.bbdd66.com/gatsby
    https://www.bbdd66.com/33
    https://www.bbdd66.com/world
    https://www.bbdd66.com/merit

    https://www.omgka.com
    https://www.omgka.com/theking
    https://www.omgka.com/sands
    https://www.omgka.com/first
    https://www.omgka.com/yes
    https://www.omgka.com/super
    https://www.omgka.com/gatsby
    https://www.omgka.com/33
    https://www.omgka.com/world
    https://www.omgka.com/merit

    https://www.omgab.com
    https://www.omgab.com/theking
    https://www.omgab.com/sands
    https://www.omgab.com/first
    https://www.omgab.com/yes
    https://www.omgab.com/super
    https://www.omgab.com/gatsby
    https://www.omgab.com/33
    https://www.omgab.com/world
    https://www.omgab.com/merit

    https://www.omgqq.com
    https://www.omgqq.com/thekingcasino
    https://www.omgqq.com/sandscasino
    https://www.omgqq.com/firstcasino
    https://www.omgqq.com/yescasino
    https://www.omgqq.com/supercasino
    https://www.omgqq.com/gatsbycasino
    https://www.omgqq.com/33casino
    https://www.omgqq.com/worldcasino
    https://www.omgqq.com/merit

  • How To Write A Letter Of Intent 25/01/2021 10:05pm (31 days ago)

    Do you want to know about How To Write A Letter Of Intent for your college? If yes, then we can help you here. A letter is basically used as an approach to introducing oneself and create a personal interest in the applicant’s application. We have a team of highly qualified experts and scholars who can help you write your letter of intent peacefully. We have years of expertise in delivering top quality results to our customers. If you also want to stand out from the crowd, let’s have a quick call to resolve your issues. Order your assignment today.

  • How Many Pages is 1000 Words 25/01/2021 9:57pm (31 days ago)

    What in case you have to write something around 1000 words, like a blog post or an article? How many pages is 1000 words? The answer to the query relies on the medium of those 1000 words. The number of pages for a certain number of words relies on the font, margins, spacing, size, and paragraph structure. The last format of your writing piece, whether it is a published book, or printed word file a page on a website, or an article in a magazine, additionally matters. Page count is also a required component of an academic assignment or business article or something that you can monitor for a personal reason. Hire our best essay writer to write your assignment or essay brilliantly.

  • How Many Pages is 1000 Words 25/01/2021 9:57pm (31 days ago)

    What in case you have to write something around 1000 words, like a blog post or an article? How many pages is 1000 words? The answer to the query relies on the medium of those 1000 words. The number of pages for a certain number of words relies on the font, margins, spacing, size, and paragraph structure. The last format of your writing piece, whether it is a published book, or printed word file a page on a website, or an article in a magazine, additionally matters. Page count is also a required component of an academic assignment or business article or something that you can monitor for a personal reason. Hire our best essay writer to write your assignment or essay brilliantly.

  • Homework Help 25/01/2021 9:47pm (31 days ago)

    Nowadays, students are attending regular lectures and prepare numerous projects. These projects make the aspirants overburdened by decreasing the scope of the candidates in sitting with ease. Thus, we have come with amazing quality online homework help solutions for distressing the aspirants by taking their burden on our head. So, you don’t have to think about it. Our Homework Help experts regularly engaged with experimenting activities for offering high-quality homework help services to you. our professional's homework help writers will there for you 24/7 and give you a fruitful solution to all your homework related needs. Let our expert handle all your home queries.

  • assignment help 25/01/2021 9:45pm (31 days ago)


    Assignment Help provides the writing assistance to write all kind of literary work. Place your order for experts’ assistance even in Jordan if you are facing issues in writing your papers.

1 2 3 4 5 6

RSS feed for comments on this page | RSS feed for all comments