March 2020 Quarter results

CCIQ Suncorp Pulse Survey of Business Conditions

The Pulse Survey for the March quarter recorded the lowest business conditions on record amidst the extraordinary forced closures and strict social distancing measures put in place by the state government in response to the COVID-19 pandemic. 

The 12-month outlook for the state and national economies collapsed to unprecedented levels as closure measures across the state led to significant declines in the bottom lines of businesses.

The economic fallout from COVID-19 restrictions emerged as the critical issue affecting the sentiment of the small business community with other key findings including:

• More than one-half of respondents experienced a fall in turnover of over 50%
• One third reported a fall in turnover greater than 80%
• 4 in 10 businesses maintained only essential operations and staff
• 3 in 10 businesses encouraged their employees to work from home
• One-quarter of the businesses adopted alternative working arrangements
• 4 in 10 businesses reduced their working hours
• One-quarter of the businesses laid off their casual workers
• 20% of businesses asked their employees to take leave.

Proud Sponsors of the CCIQ Suncorp Pulse Survey of Business Conditions