Queensland business can’t afford to wait for COVID payments
Queensland businesses impacted during COVID lockdowns have waited too long for access to assistance and can not emotionally or financially afford to wait any longer.
Chamber of Commerce and Industry Queensland (CCIQ) Policy and Advocacy General Manager Amanda Rohan said impacted business in and outside of lockdown areas were told today they could access one-off payments of $5,000 but they’d have to wait up to two weeks to receive the cash – an announcement they had already waited months to hear.
She said it came after CCIQ had been calling for the financial impact of lockdowns on businesses to be compensated since the March greater Brisbane lockdown.
“Today’s announcement is good news for businesses impacted during lockdowns and especially those locked out in regional areas who we know some of which are doing it just as tough as those forced to close,” Ms Rohan said.
“Not withstanding this, it’s been five months since Queensland businesses were first forced to close in snap lockdowns without financial support and three lockdowns later, they’re today told they could have to wait up to two weeks to have access to cash.
“We know even short snap lockdowns can have significant financial impacts on business’ ability to recover or even reopen at all after a lockdown so it’s not good enough for business to have to wait this long to have access to payments.
“The uncertainty this kind of delay creates and the impact that has on business and consumer confidence is damaging to the long-term recovery prospects of not only those businesses forced to close, but others outside the hotspots which experience flow-on impacts and the wider Queensland economy.
“We know the impacts of lockdowns can reach far beyond the hotspot local government areas, with 82% of businesses we surveyed during this lockdown saying they expected a lack of trade and booking cancellations to impact them with more than 60% expecting longer term implications of falling confidence to hurt their bottom line.”
Ms Rohan said businesses reported three days of lockdown could cost them up to $65,000 – significantly more than the $5,000 on the table for current eight day lockdown.
“Businesses need to maintain their commitment to staff who rely on them for an income, pay ongoing bills and overheads which don’t go away when they’re not able to trade and plan for long-term recovery, costs which can add up quickly,” she said.
“Even small businesses expected three days of lockdown could cost them up to $12,000 which tells us the $5,000 payments on offer don’t go far to compensate for the immediate impacts of a lockdown let alone give businesses certainty and confidence to recover long-term.
“We’re also concerned these payments exclude some businesses, like non-employing sole traders and those with less than $75,000 turnover. All kinds of businesses are hurting and even the smaller operators who work just as hard to secure their livelihood and their contribution to the Queensland economy need to be compensated to ensure they’re still there when the lockdown lifts.”
Ms Rohan said businesses needed to be afforded certainty on how to access payments to ensure they were able to maximise their impact.
“Now is the time for detail – how, where and when these payments will be made available is essential if businesses are able to come out the other side of the fourth lockdown this year,” she said.
“Without this certainty, the impact this lockdown could have on our business community could be catastrophic.”
CCIQ media contact
Emma Clarke
Media and Communications Advisor
[email protected] | 0403 944 902