June 1, 2020

NAB Business Insights Survey

Part 1 and 2: The Coronavirus and other key business concerns now and in the future.

The outbreak of coronavirus and subsequent containment measures are driving changes in attitudes and behaviours of customers, employees and businesses. While some have found themselves on the right side of history, most businesses have seen a significant decline in their short-term operating income as they struggle to maintain sufficient cash flow. Some have been forced to shut down completely.

In Part 1 of this Special Business Insight Series, NAB explores the key concerns of Australian firms in the current environment, both now and over the next 12 months. With almost every industry affected, Australian businesses are being tested as never before. Around 6 in 10 Australian firms still expect coronavirus to be a ‘major concern’ for their business in 12 months’ time. Fewer than 1 in 10 see any positives for their business arising from the crisis. The survey is based on responses from 765 firms representing a broad cross section of businesses across the country. It was taken between 22nd of March and the 1st of April.

In Part 2 of this Special Insight Survey, we ask business what needs to occur for confidence to recover, their strategies to remain viable during the crisis and the impact of Government assistance packages.

For further details, please see the NAB Business Insights Survey Part 1: The Coronavirus and other key business concerns now and in the future, and NAB Business Insights Survey Part 2: How businesses are tackling Coronavirus and impacts of government assistance.