Victorian small businesses suffer worst conditions in the nation

The latest NAB Quarterly SME Survey for the first three months of 2021 has confirmed that conditions for Victorian small and medium businesses are the worst in the country.

Conditions for small and medium enterprises (SMEs) in Victoria were at 5 index points, clearly the lowest in the country and well below the overall figure for Australia, which is at 14 points. 

The Victorian number was the same as it was for the last three months of 2020.

Not surprisingly, SME confidence in Victoria is also among the lowest in Australia falling to 15 index points. 

The overall figure for SME confidence in Australia is 17 index points.

Comments attributable to Shadow Treasurer Louise Staley:

“These latest figures show that small and medium businesses in Victoria are still struggling compared to the rest of the country.

“It has been small businesses that have been hardest hit by the COVID-19 pandemic and three lockdowns in Victoria. Despite this, the Andrews Labor Government has refused to provide the level of support needed to get small businesses in Victoria going again.

“The results from this latest survey not only show that conditions are not improving for Victorian small businesses, but that small business confidence is suffering as a result.

“This is why the Liberal Nationals will cut payroll tax for small businesses, so that they can have the confidence to start hiring, which will drive Victoria’s economic recovery from the pandemic.”

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