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A survey from the Australian Bureau of Statistics (ABS) into the business impacts from Covid-19 has revealed some interesting trends, particularly around adaptation and negotiations with landlords.
In the second survey in relation to the effects of the pandemic on the business community, the ABS found close to two in five businesses (38 per cent) have changed how they deliver their products or services, including shifting to online services.
More than a third of businesses have renegotiated their lease and rental arrangements and a quarter have deferred loan repayments.
The bureau found two thirds (66 per cent) of Australian businesses reported that their turnover or cash flow had reduced as a result of the virus, and nearly half (47 per cent) had made changes to their workforce arrangements.
For some businesses this included temporarily reducing or increasing staff working hours, changing the location where staff worked (including working from home) or staff being placed on leave.
Related story: PM unveils mandatory commercial tenancies code
Updated at 12:24 AEST on 7 April 2020.
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