BUSINESS – AUSTRALIA

Small businesses in NSW and South Australia hardest hit by coronavirus crisis

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Original article by Adam Creighton
The Australian – Page: Online : 17-Mar-20

Research by Roy Morgan has found that 60 per cent of Australian businesses have now been affected by the coronavirus pandemic, compared with just 15 per cent in mid-February. The survey of more than 1,100 businesses also shows that 17 per cent of businesses have been affected ‘a great deal’ by the virus, up from two per cent in mid-February. Roy Morgan CEO Michele Levine notes that more than 70 per cent of businesses with turnover of at least $1m have reported being affected by the coronavirus, at a time when the economy is still recovering from the bushfires. She says the federal government’s stimulus package will need to be significantly increased to avert a devastating recession.

CORPORATES
ROY MORGAN LIMITED

Already 1-in-6 Australian businesses have been affected by the coronavirus (COVID-19)

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Original article by Roy Morgan
Market Research Update – Page: Online : 25-Feb-20

In mid-February around 1-in-6 Australian businesses (15%) have already been affected by the coronavirus. This new threat to business comes after 28% of Australian businesses said they have been affected by the extensive bushfires over the last few months, according to a special Roy Morgan Snap SMS Survey of 1,170 Australian businesses. A little over a week after the Australian Government stopped all direct commercial flights to China in early February the coronavirus (COVID-19) is already striking several industries. Around two-fifths of Manufacturers are already reporting being affected, closely followed by a third of Education & training businesses and those in the Wholesale industry. Other industries to already be feeling the effects of the coronavirus include Accommodation & Food services (which includes travel and tourism businesses), Community services, Administrative & Support services and Property & Business services. Meanwhile, a deeper analysis of the industries most heavily impacted by the bushfires/floods shows that over 40% of businesses in the Accommodation and Food services sector, which includes travel and tourism, say they have been affected either ‘A great deal’ or ‘Somewhat’. Around a third of businesses in the Retail and Property & Business services industries have been affected, while there have also been disproportionately large impacts on Manufacturing, Transport, Postal and Warehousing, Public administration & defence, Education & training and Recreation & personal.

CORPORATES
ROY MORGAN LIMITED

Westpac lifeline for virus-plagued customers

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Original article by Glenda Korporaal
The Australian – Page: 19 : 12-Feb-20

Westpac has revealed details of its support package for businesses that have been impacted by the coronavirus. Amongst other things, it will allow business loan repayments to be deferred for up to three months, while businesses will also be able to extend their loans for up to three months. Westpac offered similar relief to bushfire victims. Businesses across the economy have been impacted by the virus outbreak, including tourism operators and fresh food exporters.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC

Business Confidence drops to 9 year low of 101.6 in January

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Original article by Roy Morgan
Market Research Update – Page: Online : 5-Feb-20

In Australia, Business Confidence fell 2.9pts (-2.8%) to a nearly nine-year low of 101.6 in January 2020, according to the latest Roy Morgan Business Single Source survey. Business Confidence is now 4.3pts lower than a year ago, and 13.6pts below the long-term average of 115.2. Only 34.5% (down 6.4ppts) of business leaders say their business is ‘better off financially’ compared to a year ago, and 44% (down 6.4ppts) expect their business to be ‘better off financially’ this time next year. Business Confidence is down on a year ago for businesses of all sizes, but the most pronounced decline is for large businesses with 200+ employees, down 18.4pts to 111.2. The latest Roy Morgan Business Confidence results for January are based on 923 detailed interviews with a cross-section of Australian businesses from each State and Territory.

CORPORATES
ROY MORGAN LIMITED

Employers order workers to stay at home after China trips

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Original article by Jennifer Duke
The Age – Page: Online : 29-Jan-20

Corporate Australia has responded to the coronavirus by taking a range of measures to protect staff. UBS is among the firms that have asked employees to work from home for two weeks if they have recently visited China. This includes staff who attended the investment bank’s recent Greater China Conference or who travelled to China for the Lunar New Year. The Commonwealth Bank has advised staff to avoid all non-essential travel to China, and to Hubei province in particular.

CORPORATES
UBS HOLDINGS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Business Confidence ended 2019 at an eight-month low of 104.5

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Jan-20

In Australia, Business Confidence fell 3.9pts (-3.6%) to an eight-month low of 104.5 in December 2019, according to the latest Roy Morgan Business Single Source survey. Business Confidence is now 7.7pts lower than a year ago, and 10.8pts below the long-term average of 115.3. Only 40.3% (down 4.5ppts) of business leaders expect the Australian economy will have ‘good times’ in 2020, and just 42.2% (down 4.3ppts) expect ‘good times’ for the economy over the next five years. Meanwhile, Business Confidence was at 106.3 in the December quarter, down 6.8pts on a year ago but virtually unchanged from the March quarter (106.1). The boost given to Business Confidence following the Federal Election in May has well and truly worn off. Business Confidence was up on a year ago in only two States, WA and Tasmania, which now have the highest ratings among the States. The latest Roy Morgan Business Confidence results for December are based on 979 detailed interviews with a cross-section of Australian businesses from each State and Territory.

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ROY MORGAN LIMITED

Business Confidence improves, up 2.4pts to 108.4 in November

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Original article by Roy Morgan
Market Research Update – Page: Online : 10-Dec-19

In Australia, Business Confidence rose 2.4pts (+2.3%) to 108.4 in November 2019, according to the latest Roy Morgan Business Single Source survey. Driving the first increase since August was improving sentiment about the year ahead. Business Confidence is 5.4pts lower than it was year ago and 7pts below the long-term average of 115.4. Now 50.8% (up 9ppts) of businesses expect the business to be ‘better off’ financially this time next year, while 20.4% (virtually unchanged) expect the business to be ‘worse off’. Meanwhile, 44.8% (up 4.1ppts) of businesses expect the Australian economy to have ‘good times’ economically over the next year, while 50.8% (down 1.6ppts) expect the economy to have ‘bad times’. Some 49.0% (down 1.4ppts) of businesses say the next year will be a ‘good time to invest in growing the business’, while 37.9% (up 2.1ppts) say it will be a ‘bad time to invest’. The Roy Morgan Business Confidence results for November are based on 1,086 detailed interviews with a cross-section of Australian businesses from each State and Territory.

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ROY MORGAN LIMITED

Federal Election bounce over – Business Confidence drops to lowest since April

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Original article by Roy Morgan
Market Research Update – Page: Online : 12-Nov-19

In Australia, Business Confidence fell 4.6pts (-4.2%) to 106.0 in October 2019, according to the latest Roy Morgan Business Single Source survey. Business Confidence is now at its lowest level since the Federal Election in mid-May; it is also 7.1pts lower than a year ago and 9.5pts below the long-term average of 115.5. Now 41.8% (down 9.9ppts) of businesses expect the business to be ‘better off’ financially this time next year, while 20.3% (up 2.1ppts) expect the business to be ‘worse off’. Meanwhile, 40.7% (down 5.8ppts) of businesses expect the Australian economy to have ‘good times’ economically over the next year, while 52.4% (up 4.2ppts) expect the economy to have ‘bad times’. Some 50.4% (down 2.1ppts) of businesses say the next year will be a ‘good time to invest in growing the business’, while only 35.8% (down 2.8ppts) say it will be a ‘bad time to invest’. Roy Morgan Business Confidence results in October are based on 1,104 interviews with a cross-section of Australian businesses.

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ROY MORGAN LIMITED

RBA urges boards: cut hurdle rates

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Original article by Matthew Cranston
The Australian Financial Review – Page: 1 & 6 : 30-Oct-19

Reserve Bank of Australia governor Philip Lowe has used a speech in Canberra to argue that businesses should reduce their return hurdle rates on new investments in response to historically low interest rates. He contends that many business investments that did not make sense commercially when interest rates were much higher should now proceed. Lowe also emphasised that negative interest rates are unlikely in Australia.

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RESERVE BANK OF AUSTRALIA

Support for business activism

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Original article by Patrick Durkin
The Australian Financial Review – Page: 5 : 16-Sep-19

A Committee for Economic Development of Australia survey of over 3,000 people found that over 75 per cent believe business leaders should speak out on issues of national importance. However, under 50 per cent of those surveyed felt that such advocacy was happening. The CEDA’s survey results come at a time when the federal government has criticised business for getting involved in too many activist causes. Tim Reed, the outgoing CEO of MYOB, says companies are entitled to take part in "community conversations", while he says he is proud of MYOB’s stance on issues such as same-sex marriage.

CORPORATES
COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA,{SHARE}MYOB GROUP LIMITED