GetCapital’s SME Index uses transaction data from a representative sample of small and medium enterprises to get deeper insights into the financial and operating performance of businesses across Australia. The index was baselined to the start of the COVID-19 pandemic and paints a picture of SME health in Australia’s new economic environment.
Back where we started
- The past year was full of considerable challenges for Australia’s small and medium enterprises (SMEs), who took extraordinary efforts to adapt and transform their business operations during unprecedented circumstances.
- The SME Index ended 2020 relatively flat year-on-year as many SMEs began 2021 where they started – albeit with updated business models after being forced to bring forward years of development.
The K-shaped recovery continues
- Data shows that even though 63% of SMEs maintained or improved their sales during 2020, more than one in three SMEs started 2021 trying rebuild their business, making for a K-shaped economic recovery.
- International borders still remain shut, and sporadic local virus outbreaks can still trigger state border closures, affecting domestic tourism, hospitality, food, entertainment and many other industries.
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