Not sure if many people saw this but the ABS sampled about 1,200 businesses in mid March to measure the business impact of the COVID-19 coronavirus.

Here are some of the findings:

Businesses by employment size, March 2020

Approximately half of Australian businesses (49%) had experienced an adverse impact as a result of COVID-19 during the previous two weeks and 86% of businesses expected to be impacted in future months.

Businesses by industry, March 2020

Over three quarters of businesses in Accommodation & food services (78%) reported that they had experienced adverse business impacts in the previous two weeks and 96% anticipated impacts over the coming months.

By contrast, businesses in Professional, scientific & technical services (21%), Electricity, gas and water supply (34%) and businesses in Mining (37%) were the least likely to have been adversely impacted by COVID-19 in the previous two weeks.

Businesses by type of impact, March 2020

A reduction in local demand was the most common impact reported for the previous two weeks (82%) and was also the most common impact expected in coming months (81%).

One of the interesting things reported was that over a third had experienced staff shortages (36%) and 59% expected to experience staff shortages in coming months.

Source for all the above data was the ABS Report 5676.0.55.003 – Business Indicators, Business Impacts of COVID-19, March 2020  

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Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au