SME Sales Index

SMEs account for the majority of employment in Australia and have been part of the business community hardest hit by COVID-19. This index aims to provide deeper insights into the financial and operating performance of SMEs through the COVID period and into the new economic environment.

SME Sales Index

  • SMEs, more than any other segment of the Australian business economy, felt the impacts of the government policy responses to COVID-19.
  • However, there is evidence of a “levelling out” towards the end of April and a turnaround in some SME sectors, as Government provided further clarity around restrictions and the first phase of the promised financial assistance became a reality.
  • With restrictions starting to lift around the country, it is expected that many SMEs may have hit the bottom in their sales and will see an uplift in in the coming months.

SME Sales Index by Industry

  • Looking at specific industry sales data for major sectors, it is clear that all areas of the economy have been impacted by this crisis, but the impact has not been uniform. As expected, hotels and restaurants have been significantly more affected than sectors such as transport and construction.
  • Industries that are leveraged to the uptick in non-discretionary consumption, (i.e. groceries, non discretionary food and wholesale transport) have remained steady with some pockets experiencing an upswing in sales.
  • The fitness sector experienced some of the strictest restrictions at the onset of COVID, with many businesses going into a forced hibernation. This is reflected, with the fitness sector suffering the largest declines of any sector in the index.
  • Overall, the declines across sectors appear to have bottomed out or flattened with some industries starting to see the early signs of recovery.

Methodology

GetCapital has created the “SME Sales Index” to help provide deeper financial insights into this critical sector. The index is calculated by taking a representative sample of businesses from around the country (varied by size, industry, and location) and looking at their credit transactions across all account types (e.g., transaction, savings, credit card). The index has been baselined to the start of the crisis and uses 6 months of average sales as the dominator.

Bank Connect

GetCapital uses Bank Connect, a proprietary technology that leverages transaction bank data to facilitate faster credit decisions and make business finance simpler and frictionless for our partners and customers. Bank Connect allows bank statement data to be retrieved in encrypted form, adhering to the highest levels of data protection and security.
Learn more.

Subscribe to email updates

GetCapital’s SME Sales Index is updated regularly with new industry data and insights. To get automatic notifications directly to your inbox, enter your details below:

The report has been prepared for information purposes only without taking account of the objectives, financial situation or needs of any individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice. All material presented in this report, unless specifically indicated otherwise, is under copyright to GetCapital. None of the material, nor its content, nor any copy of it, may be altered in any way, transmitted to, copied or distributed to any other party, without the prior written permission of GetCapital.