BUSINESS – AUSTRALIA

794,000 businesses affected by casual employee ruling

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Jun-20

A special Roy Morgan SMS survey of 881 Australian businesses shows that 34.5% are set to be affected by the Federal Court’s ruling on the entitlements of casual employees. Most worryingly, as many as 123,000 (5.5%) businesses say they will be ‘forced to close’ because of the ruling. A majority of small businesses (54.5%) with 5-19 employees and medium businesses (54.5%) with 20-199 employees say they will be affected by the ruling in some way. Over a third of large businesses (36%) with 200+ employees and just under a third of micro businesses (32%) with 1-5 employees say they will be affected by the ruling in some way. Roy Morgan CEO Michele Levine said the Federal Court’s ruling on casual employees has the potential to have a significant impact on hundreds of thousands of Australian businesses.

CORPORATES
ROY MORGAN LIMITED, FEDERAL COURT OF AUSTRALIA

In April Business Confidence plunged to record low of 76.9 but starting to improve

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Original article by Roy Morgan
Market Research Update – Page: Online : 11-May-20

In April 2020 Roy Morgan Business Confidence was down 18.2pts (-19.1%) to 76.9 – plunging to a second consecutive record monthly low. Michele Levine, CEO of Roy Morgan, says "Business Confidence in April continued in a steep negative direction following when it began plunging in late March. The large drop followed the introduction of strict social distancing and self-isolation directives from the Federal and State Governments that persisted throughout the month of April. The good news is that Business Confidence bottomed in the first half of the month and has since improved. For the first half of April Business Confidence averaged only 69.3, similar to its rating for late March of 71.4. Since this low-point the index has improved and averaged 82.0 during the second half of April as Australia ‘flattened the curve’ of new COVID-19 infections."

CORPORATES
ROY MORGAN LIMITED

Business Confidence hits a record low of 95.1 in March – declines accelerated throughout the month

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Original article by Roy Morgan
Market Research Update – Page: Online : 7-Apr-20

In Australia, Business Confidence fell 9.5pts (-9.1%) to a new record low of 95.1 in March 2020, according to the latest Roy Morgan Business Single Source survey; this is more than 4pts below the previous bottom of 99.8 the decade-old index hit in July 2011. Business Confidence is now 11.6pts lower than it was year ago, and 19.8pts below the long-term average of 114.9. Analysing Business Confidence by dividing March into fortnights reveals a tale of two distinct halves. In the first two weeks of the month the index continued its recovery from the summer bushfires and averaged 107.5, an increase of 2.9pts from February. However, this recovery was halted in mid-March, with the index averaging only 71.4 over the last half of the month. It plunged day-by-day through to the end of March as the COVID-19 coronavirus pandemic hit Australia and prompted increasing government restrictions to stop the spread of the virus. The latest Roy Morgan Business Confidence results for March are based on 885 detailed interviews with a cross-section of Australian businesses from each State and Territory.

CORPORATES
ROY MORGAN LIMITED

A majority of Australian businesses say we’re in recession

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Original article by Roy Morgan
Market Research Update – Page: Online : 18-Mar-20

A majority of 56% of Australian businesses say Australia is in its first ‘recession’ in nearly three decades, according to a special Roy Morgan Snap SMS Survey of 621 Australian businesses. Analysing by States shows over two-thirds (68%) of Queensland businesses say Australia is now in a ‘recession’ – higher than any other State. A majority of businesses in New South Wales (56%) and a slight majority in Victoria (51%) also agree that Australia is now in a ‘recession’. Although a small sample, Tasmanian businesses are more likely than those in any of the three larger States to say Australia is in a ‘recession’. In contrast a slim majority of businesses in both Western Australia (53%) and South Australia (52%) say Australia is ‘not’ in a ‘recession’.

CORPORATES
ROY MORGAN LIMITED

Economy in recession fear businesses

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Original article by Adam Creighton
The Australian – Page: Online : 18-Mar-20

Businesses across the nation have declared the economy in recession for the first time in almost 30 years, as the death toll from the deadly coronavirus reaches five and infections soar above 450. Almost 60 per cent of more than 600 Australian businesses surveyed by Roy Morgan said the economy was in "recession" already, including almost 70 per cent in Queensland – more than any other state – whose tourism sector is expected to be hit especially hard by the collapse of international travel. "Some industries have been hit harder than others but majorities of businesses in most industries agree Australia is in a ‘recession’ including Manufacturing, Construction, Wholesale trade, Accommodation & Food services and Education & Training," said Roy Morgan chief executive Michelle Levine. "Although it’s obvious Australia is already in a ‘recession’ there are only a few things that can save Australia from experiencing a full-blown ‘depression’ which is recognised as a fall in GDP of at least 10 per cent," she added. The last recession in Australia in the early 1990s saw the jobless rate surge from 6.6 per cent to 9.5 per cent in the 12 months to 1991.

CORPORATES
ROY MORGAN LIMITED

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