Australian Consumers Lose Confidence As Retail Sales Drop During Recent Lockdowns
Many Australian businesses are afraid that new lockdowns will give them no choice but to close their doors permanently as online shopping remains the only way they retail stores can continue to generate revenue during the new lockdowns in Sydney and Melbourne. With over half the Australian population in lockdown to prevent the spread of […]
Calls for Targeted Stimulus Package to Assist Hospitality Venues Post JobKeeper
Restaurateurs and café owners across Queensland are calling for the Australian Government to create a targeted stimulus package to support the hospitality industry. This comes as Brisbane was placed into a three day lockdown earlier this month to combat the recent announcement locally acquired covid-19 cases being detected in the Greater Brisbane Region, Gold Coast […]
Youth Unemployment in Australia During the Covid-19 Pandemic
Over 870,000 Australians lost their jobs during the first few months of the covid-19 pandemic. Around 38% or 332,200 of these Australian workers were young Australian aged between 15 and 24. By June 2020, as Australia’s overall unemployment rate hit 7.4%, the youth unemployment rate jumped to 16.4%, with a further 19.7% underemployed. An underemployed […]
Hospitality Venues in Brisbane Endure First Lockdown Post JobKeeper
Restaurants, cafes and other hospitality establishments located in Brisbane are expecting to take a massive hit as the city enters Australia’s first covid-19 lockdown since the end of JobKeeper. Under the new lockdown rules, hospitality venues are only able to serve take-away or home delivery options to their customers. Non-essential businesses such as; gyms, cinemas, […]
Insolvencies Increased by 61% In February 2021
Last month saw the number of insolvencies in Australia rise by 61%. The official statistics released by CreditorWatch indicate that insolvencies increased from 254 external administrations at the start of February to 408 administrations by the end of February 2021. With JobKeeper set to end on 28th March 2021, it is anticipated that the number […]
Preparing for The End of JobKeeper
On 28th March 2021, the Australian Government is planning to phase out JobKeeper. The payment was originally introduced in March 2020 at the start of the covid-19 pandemic to encourage affected businesses to keep staff employed during the nationwide lockdown. JobKeeper is a wage subsidy payment made via the tax system. On top of […]
Victorian Government Announces Support for Businesses Impacted by Covid-19 Lockdown
The Victorian Government has announced new support for small businesses, including sole traders which have been impacted by the covid-19 circuit-breaker action. Operators from businesses in industries such as; hospitality, events, tourism and the creative industries are all set to benefit from these grants. The $143 million Circuit Breaker Support Package is expected to help […]
Observations on Food Retail in Australia 2018/19
Our year in food retail has seen the widespread closure of outlets, rather than regeneration. It has been a tough year, with the dual influence of rising costs and external pressures. There has been an escalation in shutdowns as marginal operators have started closing the doors earlier and walking away from unrealistic leases.
Press in this area has been increasing and there has been a slew of prominent restaurants closing their doors.