The latest results from the Suncorp CCIQ Pulse Survey for the June quarter 2020 have indicated a slight improvement on the March quarter despite conditions and performance continuing to remain very poor.
Below is a snapshot of the survey results and you can access the full report here:
1. General Business Conditions
Two in three businesses (65%) indicated that business conditions during the June quarter had deteriorated.
2. Sales and Revenue
Two-thirds of Queensland businesses indicated that sales revenue had fallen during the June quarter amidst the social distancing measures implemented by the State and Federal government.
3. Operating Costs
The Other Operating Costs Index fell by another 7.2 points over the June quarter to 47.7. This is the first time the Index has fallen below 50 and indicates that business costs are decreasing, providing essential cost relief for businesses forced to close.
Two in every three businesses (65%) reported that their profitability had declined during the June quarter. This reading is only slightly better than the March quarter, causing the Profitability Index to increase by 2.4 points to 30.4 while remaining at an unprecedented poor level.
5. Employment Levels
Employment levels increased by 2.3 index points in the June quarter to 39.3 as two in every five businesses reported reduced staffing. While improving, the reading for June is the second lowest ever recorded and follows the historic low observed in the previous quarter (March 2020).
6. Capital Expenditure
Capital expenditure remained virtually unchanged, increasing by only 0.3 points to 40.6. Businesses indicate having to further reduce capital expenditures during the September quarter with the Forecast Index remaining low at 42.4.
The Suncorp-CCIQ Pulse Survey (Pulse Survey) of Business Conditions is the largest survey of the state’s 438,000 small and medium-sized businesses and serves as a leading indicator of sentiment across Queensland’s diverse business community. Pulse is unique and aims to measure the sentiment of business owners and managers across the state, providing critical insights into the current, planned and latent business activity. It is, therefore, a barometer of optimism and concern regarding key matters that are important to Queensland’s small and medium-sized enterprises and provides a platform for their collective voice to be heard.
If your business is seeing signs of distress, Marsh & Partners are able to help. From accessing government and bank support to analysing and tweaking business operations to ensure your business survives into the future – our business improvement and crisis management experts give hands-on help to better your outcome. You can contact us on (07) 3023 4800 or at email@example.com.
You can find out more about working with Marsh & Partners here. As your Absolute.Account.Ability partner we’re on a mission to make your business life better. We’ll help you set goals for your business, devise an Action Plan to make them happen and meet with you regularly to ensure you stay on track.
Share this article on LinkedIn: