We conduct regular surveys to check the pulse of Australian businesses and inform our policy positions. Our surveys are intended to inform businesses, policy makers and the community on the condition of industry. They are frequently cited in the media and considered by the Reserve Bank of Australia.
The Westpac–AusChamber Actual Composite improved to 42.4 in the September quarter after falling dramatically to 24.0 in the June quarter associated with the initial lock-down in response to covid. The index remains well below its pre-covid level of 56 at the end of 2019.
This survey examines the impact of social distancing and travel restrictions on businesses, and the pace in the easing these restrictions. It also seeks business’ views on which Government support measures are of greatest benefit and how prepared they are for the winding back of this support.
The Westpac–AusChamber Actual Composite index fell to 24.0 in the June quarter, to be around the historic low for the series, indicating a sharp contraction in activity in the period. That is down from 45.0 in March and compares to 52.9 in December 2019.
The results of the second ACCI survey are now available. We surveyed a broad cross-section of our membership to examine the benefit of JobKeeper, the effect of social distancing and the changes made to business operations to meet social distancing requirements.
The survey was undertaken between 30 March and 17 April and involved 1,497 businesses across all states and territories. We would like to acknowledge the assistance of our states and territories chamber associates and industry association members for their assistance in developing and distributing the survey through their membership networks.
The Australian Chamber’s Fourth National Trade Survey, conducted in partnership with the University of South Australia’s Australian Centre for Asian Business, aims to gauge the attitudes and challenges faced by Australian businesses in the international market.
It is supported by the qualitative insights from over 200 Australian businesses over the years 2013-2018.
Australia’s role as a trade and investment partner to some of the world’s largest economies has allowed us to create jobs, wealth and opportunities for many Australian businesses.
In an era of unparalleled globalisation and technological advancement, other developed nations have begun adapting their policy settings to better place business to compete in international markets. If Australia does not do the same, we will get left behind. It is important that we put in place the right policies to help Australian businesses create and sustain jobs, and provide competitively priced goods and services.
The Fourth National Trade Survey identifies the opportunities and key barriers Australian businesses are facing, including understanding and utilisation of free trade agreements, high domestic costs and red tape, engagement in emerging markets, access to trade finance and utilisation and support of trade initiatives.
In highlighting these key issues, we hope this report sparks a national discussion on the domestic reforms needed to ensure Australian businesses remain internationally competitive and acts as an impetus for change.
Click here to download the Full Trade Survey