Natira Drayton, Vice President and Country Manager, Intuit Australia
This is undoubtedly one of the toughest times small businesses will face. Two-thirds (63%) already report a significant impact from COVID-19 and 82 per cent are worried about their business’s profitability in the coming months – and it’s still early days.
We recently partnered with YouGov to take the pulse of our small business community and found that forty per cent of small businesses who have taken a hit said revenue has dropped by half or more in the past one to two months. Small business owner’s main concerns right now are cashflow, the viability of your business, retaining customers and the health and wellbeing of your employees.
Our research revealed one in four small businesses (26%) won’t be taking any action or still don’t know what action to take at all. To small business owners, we say it’s alright to feel unsure.