Future looks grim for Victorian businesses

Victorian small and medium businesses (SMBs) still hold deep concerns about the economy moving into 2021, according to the September Quarter Sensis Business Index, released today.

Victorian SMBs had the highest level of pessimism about the future of any state in Australia, with 34 per cent of SMBs saying they believe the economy would be worse a year from now.

33 per cent of Victorian SMBs said they expect it will take more than a year to get back to pre-pandemic levels, compared to 25 per cent of SMBs in New South Wales.

Victorian SMBs also had the highest level of distrust of their state government, with 24 per cent saying they believe the Andrews Labor Government works against small business.

Comments attributable to Leader of the Opposition and Shadow Minister for Small Business, Michael O’Brien:

“Mum and dad business owners have been completely neglected by Daniel Andrews. If you’re not part of a big union or a big business, Andrews just doesn’t care.

“Victoria is the only state where businesses were shut down for months and it’s all because of the second wave the Andrews Labor Government caused.

“The Liberal Nationals care about small and medium businesses - we have a plan to support them. Getting Victorians back to work and back in business is our priority.”

Comments attributable to Shadow Treasurer, Louise Staley:

“The Sensis Business Index tells us what we’re hearing from small and medium businesses every day: the Victorian economic crisis is hitting them hardest of all.

“The engine room of Victoria’s economy is stalling under the Andrews Labor Government.

“As a result of the second wave of COVID-19 caused by Labor’s bungled hotel quarantine program and inadequate contact tracing, businesses with under 200 employees have shed jobs at around three times the levels of businesses employing over 200 people. It’s little wonder Victorians SMBs are stressing about the future.

“Last month’s state budget didn’t provide a recovery plan for these businesses, so it’s not surprising to see such a large number of SMBs feel the Andrews Labor Government is working against them.”

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