A large fall in Australia’s economic growth has not yet been fully felt by the small business sector, due to government support measures.
Whilst JobKeeper and Cash Boost are being withdrawn, a second phase of government support with infrastructure spending, home builder packages, tax cuts, job creation and health care spending are being added in the 2020 Budget.
The success or otherwise that the Federal Government has in managing these interventions, will play a significant role in how the Australian economy recovers. The recovery will likely be uneven amongst different small business sectors, dependant on where government measures are applied as well as the broader effects of the world economy.
If you would like to read the full version of the October 2020 market update, you can do so in our members section.