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Businesses seek advice in response to COVID-19

Released
24/06/2020

Three in five (60 per cent) Australian businesses sought external advice in response to COVID-19, according to the latest results from the Australian Bureau of Statistics (ABS) survey on Business Impacts of COVID-19.

ABS Head of Industry Statistics, John Shepherd, said “This external advice was most likely to be obtained from organisations including banks, lawyers or accountants (81 per cent) and also federal government agencies (64 per cent).”

Businesses were most likely to seek advice about government support measures (86 per cent) and regulation and compliance (75 per cent).

Mr Shepherd said: “The survey found that almost two thirds (65 per cent) of all business have introduced new hygiene protocols and practices, and 57% have made changes to meet physical distancing requirements.”

The release also includes information about how business revenue has changed. Two thirds of businesses reported a decrease compared to last year. Of those businesses, more than three in every ten estimated that revenue had fallen by more than 50 per cent.

This survey is part of a series of additional products the ABS is releasing to measure the economic impact of COVID-19. Data was collected between the 10 June and 17 June. Further information is available in Business Indicators, Business Impacts of COVID-19 (cat. No. 5676.0.55.003).

The ABS thanks all those who contributed data to this release.

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