Business Conditions Survey 2020 Results So, what’s happened to confidence in the economy and business conditions compared to the same time 12 months ago?
The first thing to say is we have captured the sentiment of Australian business leaders emerging from the Covid-19 pandemic, cautiously optimistic that the future is improving! How different would our survey results have looked if we had surveyed during the most severe “lockdown” restrictions with complex and uncertain business conditions in June? With that said, 75% of our respondents are optimistic (cautiously to very) that the growth prospects of their businesses will significantly improve and grow over the next 12 months. The other 25% of our respondents expect to face difficult conditions—this is in comparison to 12 months ago, where only a small proportion of respondents (10%) expected to face difficult conditions. 54% of our respondents are cautiously optimistic, compared to almost all our respondents last year (90%). So, a higher proportion expects difficult conditions and a higher proportion expect significant growth.
