COVID-19 continues to deliver uncertainty, a Wollongong business owner says, but the pandemic has given businesses the opportunity to become more agile in the face of challenges.
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The Illawarra Business Chamber released the results of the December business conditions survey on Monday, which executive director Adam Zarth said showed business confidence was positive for the first time since September 2019.
Mr Zarth said the results reflected the optimism and resilience of the Illawarra business community coming out of 2020.
"However, since the survey results were finalised, we've heard from local business owners about how quickly confidence can be eroded following new outbreaks, lockdowns and border closures," he said.
Owner and founder of business administration provider ProAdmin Solutions, Andriana Epistithiou, said her business started to gain traction towards the end of 2020, and while it had quietened in January as people took holidays, she expected it to pick up again next month.
Miss Epistithiou said COVID-19 could bring out anxiety for some business owners and made some aspects of planning difficult.
However, she said it had also prompted businesses to become creative and highlighted the need for business continuity plans going forward.
Miss Epistithiou said businesses had now had time to innovate and build their confidence.
Some businesses had been able to use government funding and supports to put new systems in place, she said, putting them in a stronger position to respond to any future lockdowns or restrictions.
Mr Zarth said the first quarter of 2021 would prove crucial to many businesses, with supports such as JobKeeper and tax relief coming to an end.
"This vulnerability will hang over the small business sector for much of the year and will need to be factored into decisions about withdrawing support measures," he said.
But the survey indicated a growing number of Illawarra businesses were looking to expand to meet demand, Mr Zarth said, and there was a greater inclination to hire more staff.
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Natalie Croxon
Reporter at the Illawarra Mercury, mostly covering social affairs. Previously of the Bendigo Advertiser, Northern Daily Leader and Quirindi Advocate. Our Watch award winner.
Reporter at the Illawarra Mercury, mostly covering social affairs. Previously of the Bendigo Advertiser, Northern Daily Leader and Quirindi Advocate. Our Watch award winner.
