A total of 922 members representing the spectrum of Victorian industry responded to the survey. It found coronavirus has had a significant impact on most Victorian businesses with nearly three-quarters (73%) telling us the impact was either extremely negative or negative for their business. Only one in 10 (13%) told us that the impact on their business has been positive.

Coronavirus is damaging jobs and business hiring intentions, with one-third of members saying they have had to stand down and/or make staff redundant as a result of COVID-19.

Half of surveyed members (57%) have reduced their job count by less than five employees. One in five (21%) told us that they have shed between 5-10 employees and a further one in five (22%) told us that they have had to reduce their workforce by more than 10 employees.

However, most members are being proactive in their response to COVID-19.

Almost a third (29%) of members have activated business continuity plans, including a review of their staffing arrangements. Very few members (3%) told us they felt they didn’t need to do anything as a result of the crisis.

Government rescue packages are also helping many businesses with six out of 10 members saying the Federal and Victorian government rescue packages will offer some level of help to their business. However, one in four members (27%) consider more help is needed.

The survey also showed that loss of revenue and the inability to pay bills and suppliers is the most concerning factor for members. The capacity to recover once the crisis is over is also a concern for many.

Explore the full survey results in our interactive infographic below.