Australian hospitality

Future looks bright for small businesses says survey

Australian small business owners are feeling more optimistic about the future of their companies than they have been at any point since the COVID-19 outbreak began.

According to the latest research from Intuit QuickBooks Back to Business, 81 per cent of small businesses across the country are confident that they will be operating at pre-pandemic levels within the next six months.

But despite the encouraging levels of optimism, one in three do not have a plan in place to ensure future success and two in five are worried about finding enough suitable staff.

The research also shows that small businesses are focused on health over wealth, with vaccines at the forefront of what they want from the government, their employees, and their customers.

“Aussie small businesses have done it tough over the course of the pandemic, especially those in Melbourne who endured the longest lockdown in the world. We’re thrilled to see the economy starting to recover, and to hear that small businesses feel hopeful about the future,” says Intuit’s Vice President and Country Manager Lars Leber.

“We’ve seen a notable shift in small businesses prioritising the health and wellbeing of their employees, showing how the pandemic has made everyone reconsider what’s most important. They still need the support of the government and Aussie consumers and want to see continued vaccine uptake.”

Intuit says accountants and bookkeepers continue to play a key role in supporting Australian enterprises, with 70 per cent saying their advisor helped them through the pandemic. Furthermore, one in five small businesses said their business would not have survived if it wasn’t for their accountant or bookkeeper.

“With conditions starting to improve as we approach the end of the year, now is the perfect time to seek out the financial guidance small businesses need to ensure a bright future,” Leber says.

For more information, visit Intuit QuickBooks or contact kate.stewart@opragency.com.au.

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