Following a comprehensive survey of its members, Business SA - South Australia’s Chamber of Commerce and Industry - has revealed the one-week lockdown in July cost the South Australian economy up to $446m.
Seeking to better understand the impacts of the July lockdown, Business SA surveyed its members, not only on the financial implications of what was considered at the time the harshest lockdown Australia had seen, but its effect on the mental health of business operators.
For restricted sectors, revenue losses ranged from a median of $10,000 for employers in the cultural and recreational services sector to $45,000 for employers in the construction sector, while median direct costs for all businesses under $2m turnover were $3,500, compared to $25,000 for businesses over $2m in turnover.
Government support provided during this time was most welcomed, but the results concluded in this survey determine the harsh reality of unrecoverable losses faced by many business owners.
Click here to download a copy