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Virus threatens small businesses with imminent closure

small businesses

Small businesses are under pressure due to COVID-19 Source: Getty Images

One in three small Australian businesses are so cash strapped they face imminent closure.


Highlights
  • Based on a national survey by Small Business Australia, it's estimated around 974,000 small business owners have drawn down on savings to keep afloat during the pandemic.
  • More than 500-thousand [[550,000]] have dug into superannuation.
  • And almost 100-thousand [[93,000] have sold real estate.

It's led to urgent appeals for additional government assistance to help businesses impacted by the coronavirus pandemic.

 


 

 


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