牛津经济研究院-悉尼市2022年商业需求调查（英）-2022.11

alConnectedTheCounciloftheCityknowledgesofourlocalarea.nowledgeEldersginalandngoingculturesionstoCountry301.ExecutiveSummary402.KeyInsights503.EconomicOverview604.BusinessTrends11BusinessNeeds16AnalysisofKeySectors20AnalysisbyArea28Conclusion3309.Methodology34nCityofSydneyBusinessNeedsSurvey2OctoberAuthor:NSW4200Frontcoverimage:Petal&Fern,PottsPoint,2020Photo:KatherineGriffiths/CityofSydneyThankyoutoallthebusinesseswhoparticipatedintheBusinessNeedsSurvey.Foranyenquiriesaboutthisdocumentortosignuptoreceivefuturesurveysandhaveyoursayaboutyourbusinessneeds,wgovauThisreportcontainsfindingsoftheCityofSydney’sthirdannualurveyranbetweenAugustandtemberandwasdistributedwidelytobusinessesacrosstheCityofSydneylocalgovernmentarea(LGA)throughallCityofSydneymarketingchannelsindustryandcommunityiesandkeybusinessstakeholdersThesurveyreceivedatotalof4completeresponsesandtheresponseswereweightedagainsttheCityofSydneyFloorSpace&EmploymentSurveytoensureindustrysectorproportionsreflectthedistributionoftheoverallbusinesssectormix.afromsecondarysourcespresentedinthisreportwasvalidatedinOctober022.PrimaryCityofSydneyBusinessNeedsSurveydataisuptodateasattimeofpublication.Whileallcarekentoensureahighdegreeofaccuracythecontributorsptnoresponsibilityforanyinjurylossordamagearisingfromtheuseerrororomissionstherein.UsersareinvitedtonotifytheCity’sBusinessteamofanydiscrepancies.hisresultreflectsthechallengingmacroeconomicandthecityRisinginterestratesfallinghousepricesandhighinflationareexpectedstrainfuturespendingHoweverthereturnofinternationalvisitorsstudentsandworkerswillhaveanoutsizedimpactontheCity–particularlythepartsoftheCitystillsufferingfromlingeringCovid9constraints.ItshouldalsobenotedthatTheannualBusinessNeedsSurveyisacriticalsourceofinformationtosupportthedecisionssinessesTheCityfirstconductedtheBusinessNeedsSurveyfollowingthefirstlockdowninitiatedinresponsetotheCovid-19pandemicin2020.Thesurveyaimedtoprovideinsightintotheneedsofsmallbusinessoperatorstodeterminethebestapproachinsupportingthemtoremaineconomicallyviable.Thesurveysconductedin20and2021haveormedactivationinitiativessuchastheAlutdoordiningprogramCBDActivationcinctActivationGrantsredtapereformdcapacitybuildingprogramslikeRebootWebinareriesandtheBusinessInnovationProgramSeriesTheBusinessNeedsSurveywasopenfromAugusttoSeptember2022andwethankthe564businesseswhoresponded.Thepurposeofthisreportistocommunicatethe2022surveyfindingswithinabroadereconomiccontextandtohelplocalbusinessesidentifyemergingtrends,challengesandopportunities.Thekeyfindingfromthisyear’ssurveyisasurgeinThreeineveryfourrespondentsexpecttheywillbeshowedsuchconfidenceWhatsmore,respondentsaremuchmoreoptimisticabouttheirownfuturethanthatoftheAustralianeconomyasawhole.ssesthatstruggledthemostthroughtheovidpandemicmaynothaveremainedopenedandthereforearenotcapturedinthe2022BusinessTheCityseconomyasawholehasnowrecoveredtopreCovidlevelsHowevertherecoveryhasevenacrosssectorsOfficebasedsectorssuchasfinanceandprofessionalserviceshaveledtherecoverywhilemanybusinessesinconsumer-endentsectorshavecontinuedtostruggleThissplitisevenmorepronouncedintheCBDwhereanglypersistenttrendtowardshybridworkinghasloweredfoottraffic.needshavechangedinlinewithchangeshebusinessenvironmentWhileadesireforadditionalbusinessgrantsremainstheneedhasrecededrelativetothe2021surveyandisconcentratedamongstsmallbusinessesOnamoregranularleveltheneedsofbusinessesarebroadlyplitbetweenofficebasedandconsumerdependentssesOfficebasedbusinessestendtodesiresupportinfindingskilledworkersandreducingredtapewhileconsumerdependentbusinessesseekgreaterlevelsofprecinctactivation.gsThreeoutoffourbusinessesintheCityhaveontinuityandresilienceinitiativesfollowcloselyintermsofpriorityasbusinessesseektoadaptandthriveinaneraofuncertaintyBusinessBusinessNeedsSurvey2022422%22%tyofSydneyGrossonalProductGRPJobIndexmentchangebetweenDecandMar022inkeysectorsymereBasedTheproportionofTheproportionoftdentslookingdentslookingforssupportgrantsfellfrom49%infellfrom49%in2021toin2022.gtofbusinessesarelookingforsupportinfindingemployeesandskilledworkers.creasingcreasingfrom1,businessesarestilllookingforsupporttogetthemselvesoutherethroughprecinctmotionportgrants2121regulationskilledworkerse2%2%expecttobefinanciallybetteroffin12months.BusinessesarefeelingeconfidentabouttheirfuturethanonomyAllbusinessesOnly8%ofbusinessesaretradingabovetheirpre-pandemiclevels.Abovepre-pandemiccapacityAtpre-pandemiccapacityBelowpre-pandemiccapacity3%12OwnbusinessAustralianeconomysinessesheirdigitalAtleastoneitelMediaAddedServicessinessesheirdigitalAtleastoneitelMediaAddedServices75%4%ficeficebasedbusinesseshaveadoptedhybridorfullyremoteworkingenvironment.ServicesonalServicestiveIndustriestyoteplitbetweenlocationshybridpremisesedormaintainedtaffinglevelsedormaintainedtaffinglevelsttobebetterfnextyearAdoptedhybridemoteworkinglhtTheCityTheCitywasdisproportionatelyimpactedCovidpandemicustraliaNSW105yofSydneyDec16Dec17Dec18Dec19Dec20Dec21eBISOxfordEconomicsAustralianBureauofStatisticsEconomyidossDomesticStateRegionalProduct6ereturnofinternationalstudentsvisitorsandmigrantstotheCityissettodriveeconomicgrowthover2023tyofSydneyseconomywasgreatlyaffectedbytheCovidpandemiclockdowns.onomygrewfasterthanAustraliaoverthethreeyearspriortotheCovid19pandemic.oweverduetoitsexposuretooverseasmigrationanddomesticandinternationalvisitorstheCitywasproportionatelyimpactedbytheeconomiceffectsoftheCovid-19pandemic.GrossRegionalProductGRP),ameasureofdeclinedsharplyacrosstheCityinJuneasCovid-19restrictedtravelandthepactoflockdownsandprolongedhybridworkingaffectedconsumer-dependentindustries.Theeconomyhasbeenonagradualpathtorecoverysincetheinitialoutbreakin.ThoughufferinganothersetbackfromthedeltaoutbreakintheCityeconomynowsitsabovepre-pandemiclevels.TheimpactontheeconomyhasmeantthatlocalemploymentacrossmostsectorshasdeclinedsinceMarchThehardesthitindustriesarethosethatdependonconsumerspendingfortheirrevenuesuchashospitality,retailandtourism.BusinessBusinessNeedsSurvey2022litydtransportsectorswillboostgrowthin,butamarkedeasingfconsumerspendingwillweighontheeconomicoutlookfor2023sexpectstheCitysconomytogrowabovethenationalaverageovertheremainderof22andinto2023.Thestrongrecoveryin22hasbeendrivenbytherecoveryofCovid9hitindustriessuchastransportityThisisreflectiveofbeingthefirstfullyearsince2019withoutanyCovid-19pandemicrelatedrestrictionsandthegradualnormalisationoffoottrafficintheCity.Growthisexpectedtocontinueinbutataslowerpaceduetohighlevelsofinflation,andtherapidriseininterestrates,weighingonconsumerspending.BeyondeconomicgrowthintheCityisexpectedtooutpaceboththestateandnationalaveragegrowingatasimilarpacetootherstatelsThebusinessservicesandtransportindustriesareexpectedtobethemaindriversofgrowthinSydneyoverthemediumterm.yemploymentgrowthacrosstheCityisforecasttooutpacethatoftheGreaterSydneyonandthestateasawholeFinancialservicesareexpectedtobealargesourceofjobcreation,singaftertwoyearsofinconsistentgrowthoverand2021.ongertermemploymentgrowthisexpectedtobeoderatelybelowtheprepandemictrendandbedominatedbyserviceindustries.BusinessNeedsSurvey2022bysectorPercentchangebetweenDecemberandMarch2022GreaterSydneyAustralia%-4%consumer-dependantsectorsrceBISOxfordEconomicsAustralianBureauofStatisticscebasedors7returnofdomesticandionalvisitorswillprovidewaitedboostforbusinessesstheCityThenumberofresidentsintheCityis6%lowerthaninlargelyduetothemigrationimpactsoftheCovidpandemicManyinternationalstudentsmeandawaveofAustraliansmovedoutofcapitalcitiesandtowardsmoreregionalareasoymentintheCityhasincreasedsince7.LocalworkerstravellingtotheyalongsidedomesticandinternationalvisitorstributeasignificantproportionofeconomicivitytotheCityTheCitywascompletelycutofffromdomesticandinternationalvisitorsatvariousstagesoftheCovidpandemicDomesticanddayvisitationthemajorityofvisitorstotheCityboththosecominginfromtheGreaterSydneyareaandovernightvisitorscominginfromfurtherafield.TherecoveryindomesticvisitationhasbeenrelativelypatchyduetostateborderclosuresandotherCovid-19pandemicrelateddisruptions.Overthefirsthalfof2022,domesticvisitationregainedhascontinueditsrecoveryOverallvisitationisdownhoweverweekendandweeknightecoveredstronglybothnowsittingabovetheirpre-pandemiclevel.ThelackofinternationalvisitorsremainsablowpendentbusinessesintheCityInternationalvisitorsarestillwellbelowpre-pandemiclevelsoverthefirsthalfof2022internationalvisitationtotheCitywas28%ofthe2019average.sitorshavestartedtoandthistrajectoryisexpectedtocontinueThereturnofinternationalvisitorswillboostlocalspendingacrossseveralkeysectorsintheCityandisparticularlygoodnewsforbusinessesinconsumer-dependentindustries.BusinessNeedsSurvey2022ortterminternationalvisitorarrivalsIndex=100yofSydney00DecDec19Dec20Dec21auofStatisticsTourismResearchAustraliainwalk-intrafficsincecovidlockdowns“s“8erseasmigrationNSW,000usandsdentvisasgrantedseasstudentarrivals000000Jun18Jun19Jun20Jun21Jun14Mar16Mar18Mar20Mar22stralianBureauofStatisticsDepartmentofHomeAffairsustralianBureauofStatisticsermanentmigrationissettoreturnwithforcein2023smigrationhasdramaticallyincreasedoverthesecondhalfof2022.CurrentlevelsareneartheprepandemicbasewithafurtherboostexpectedrlynextyearThenumberofstudentvisasgrantedhaspickedsindicatesarobustrecoveryinthenumberofstudentsarrivingintheCityovertheshort-term.ThesevitalpopulationflowswillincreasefoottrafficndreleasesomepressureonthetightemploymentiswillreducesomeofthestaffshortageswhichareaffectingsomesectorsandprovidefurthernomicsupportacrosstheCitynationalstudentvisasgrantedandarrivalsNSW9BusinessNeedsSurvey20229sdrivingupfoottrafficsdrivingupfoottrafficbutthefutureofreturningtotheofficeremainsunclearWhiledomesticandinternationalvisitationwillprovideaboosttobusinesses,thenumberofworkerscomingintotheCityrepresentsalargerproportionofvisitation.ficeoccupancyintheCBDhasstalledataroundto55%forthepastfewmonthsandthenumberofpedestriansonmajorCBDstreetshasbeensteadyataroundofthepre-pandemiclevelnghasbecomethepreferredsysteminmanysectorsandtheoutlookforoccupancyisOnpeakdaysoccupancyreachesintheSydneyCBDhoweveronlowdays,onlyofworkerscomeintotheoffice.Inadditiontognficantlyaffectingrevenuethesefluctuationsakeplanningdifficultformanyconsumerdependantbusinesses.00Jul0Jul1Jul2Source:PropertyCouncilofAustraliayCBDofficeoccupancyThenumberofworkerscomingintotheCityeachdayfluctuates,makingitharderforbusinessestoplantotheSydneyLeadershipSurveyconductedbytheCommitteeforSydneyinOctober2,nearlyallbusinesses(91%)areofferingflexibleworkingarrangements(includingallowingftoworkfromhometoattractstaffThistrendisunlikelytoreverseasbusinessescontinuetostruggletofindandretainemployees.0%%erage0%%erageoftheeekSource:PropertyCouncilofAustraliaerofpedestriansbasedonautomatedpedestriancountofParkStreetMarketStreet,ElizabethStreet&BridgeStreetconductedbyCityofSydneyBusinessBusinessNeedsSurvey2022sinesseshaveseenemploymentincreaseorremainthesamesincethe2021CovidlockdownStaffinglevelscomparedtoMay2021(pre-2021Covid-19lockdown)reofrespondentsficantlydecreased%%8%dthe8%ificantlySourceCityofSydneyBusinessNeedsSurvey2022sbusinesseshaveremainedhroughthechallengesoftheemicditionscontinuetoimproveheCityasmorebusinessesreturntotheircapacitysurveyedbusinessesreportedthattheirrecoveryhadbegunBusinessflexibilityandthepolicyresponsetotheearlyimpactsoftheCovidpandemicsawtheeffectsofreducedangesincashflowdifficultiessourcingstockandgovernmentrestrictionsdecreaseoverThisresiliencehascontinuedinto2022,witharoundtwothirdsofbusinessesnowreportingtheirstaffinglevelshaveincreasedorremainedthesamecomparedtoMay2021(pre-2021Covidlockdown).sesarealsoindicatingconfidenceintheirstaffingrequirementsOverall,90%expecttheirstaffinglevelstoremainthesameorincreasenextyearLargerbusinessesaretypicallymoreconfidentwith5%expectingtoincreaseorsignificantlyincreasetheirstaffingoverenextyearcomparedtoforsmallandverysmallbusinesses.BusinessNeedsSurvey2022everyindustryrespondentsweremore“re“reofrespondents usinessServices73%Retail45%73%FinancialServices19%71%CreativeIndustries53%tyAustralianeconomySourceCityofSydneyBusinessNeedsSurvey2022 85%OwnBusiness2%ertheirbusinessandtheAustralianeconomywillbefinanciallybetteroffin12months3%re3%OwnBusinessAustralianeconomySourceCityofSydneyBusinessNeedsSurvey2022BusinessNeedsSurvey2022everyindustryrespondentsweremoreoptimisticabouttheirownbusinessthantheAustralianeconomyasawhole.Overall,57%ofallexpectthattheAustralianeconomywillbefinanciallyworseoffinoneyears’timeThisisincontrasttolastyearwhen54%ofpectedtheAustralianeconomytobebetteroffinoneyearstimeertheirbusinessandtheAustralianeconomywillbefinanciallybetteroffin12monthsTheseresultsaremarkedlyhigherthanseveralthatlocalbusinesseshavearelativelysitiveoutlookwhencomparedtowiderNSWandAustralianbusinesses.nesscapacitycomparedtomonthsagoConsumer-dependentnesscapacitycomparedtomonthsagoConsumer-dependentBelowpre-covidcapacityAtpre-covidcapacityAbovepre-covidcapacity34%ebasedrecovidcapacityAtpre-covidcapacityAbovepre-covidcapacitySourceCityofSydneyBusinessNeedsSurvey20228%%tsofofThestronglabourmarketwillencourageconsumerfportionofconsumer-dependentbusinesses.chasbeentrendingupwardsslowlysincethebeginningoftheyearwhichhassupportedtherecoveryofconsumer-dependentbusinessesoverthelastsixmonths.yncountonmajorCBDstreetsIndexweekending3/2020=100500Mar20Sep20Mar21Sep21Mar22Sep22SourceCityofSydneyBusinessNeedsSurvey2022%%%““sofofremployeeworkingarrangementspremisesWorkingfromhomerOffice-basedbusinessesConsumer-dependentbusinessesSourceCityofSydneyBusinessNeedsSurvey20227%BusinessBusinessNeedsSurvey2022TheCityfringeledthewayforalltypesofdigitalserviceexpansionsapartfromaddingservices,forwhichCitycentralbusinesseswerethemostlikelytomakeimprovements.Thisislargelyreflectiveoftheindustrymake-upofthecentralareainwhichthebusinessservicessectormakesupagreaterproportionofbusinessesandhaveprioritisedservingcustomersthatpreviouslymayhaveaccessedservicesin-person.sesalsointroducedtemporarydigitalexpansions,inresponsetothechangetotheirtypicaloperationsflexibletemporarydigitalserviceswereofferedby11%ofallbusinesses.fromhome,however,theydidmissthechanceTheimpactoftheCovid9TheimpactoftheCovid9pandemicandworkingfromhomehashadapositiveimpactontheuptakeogyPartofthisdevelopmentwasthroughtmanybusinesseshavealsoincreasedtheirfocusonthisspacetoaccessanewmarket,xpandtheircapabilitiesorimprovetheircustomerexperience.sesofallsizeshaveexpandedtheirservicesinthelastmonthsAcrossallrespondentsofbusinesseshaveexpandedatleastoneaspectoftheirdigitalservicesinthelast12months.essesthoseunderyearsinoperationwere4percentagepointsmorelikelytohaveimprovedorintroducedanewdigitalservice.Thisislikelyreflectiveofolderbusinessesalreadyhavinganestablisheddigitalservicebutalsoyoungerbusinessesgreaterappetiteforpivotingtotakeadvantageofchangesinthemarket.BusinessesintheCityhavedemonstratedacontinuedresponsetotheshifttowardsonlinebusinessofferings.““BusinessBusinessNeedsSurvey2022“xpansion“xpansionischallengingatatimewhentheoymentrateisatahistoriclowandoverseasmigrationhasonlyjusthitpre-pandemiclevels.lyoverathirdofrespondentsindicatedthattheyrequiresupportinfindingemployeesandkersSpecificallysomebusinesseshavementioneddifficultyinretainingandhiringskilledforeignworkers.hangingastheentimprovessupportremainsthetoppriorityregenerallyexpectingtoincreasefingoverthenextmonthsHoweverBusinessBusinessNeedsSurvey2022““ginessesarelookingforawiderangeofsupportincludingprecinctpromotionandeventsoperationalsupportandfinancialaidServicesServicesandsupportareasmostinneedoverthenext12monthsareoftotalrespondents42.6%ssupport42.6%.5%employeesandskilled.5%.9%ctmarketing.9%redtapeandregulation8%6%.9%Advocacyforsupportacrossother8%6%.9%earandongoingcommunicationofsupportcteventsandactivities4.3%rtwithgovernmentfeesand4.3%illsdevelopmentandtrainingkingratutoryassistancewithlandlordcationongovernmenttenderingorprocurementrceCityofSydneyBusinessNeedsSurveyBusinessBusinessNeedsSurvey2022sinessesarelookingtostrengthentheirsocialmediamarketingandcommunicationskills.evioussurveysmanybusinessesarecontinuingtofocusonstrengtheningtheirmarketingcapabilitiesoverthenext12to18months.Almosthalfofthe2022respondentsarelookingtostrengthentheirsocialmediamarketingandcommunicationskillsComplementingthis46%ofrespondentsarelookingtoimprovecustomeracquisitionandretention.TheCitycansupportthesegoalsbyincreasingprecinctmarketingandpromotion.irdofbusinessesthinktheCitycansupportthemthroughprecinctmarketingtionInparticularsomebusinesseshavementionedtheneedforpromotionsthataretargetedtowardattractingofficeworkersbackintotheCBD.BusinessBusinessfocusareasoverthenexttomonthsareoftotalrespondentsSocialmediamarketingandcommunicationsskillstomeracquisitionandretention2%ategyand2%esscontinuityandresilienceandservicedevelopment%nd%%ealthand%ainablepracticesAccounting,cashflowandfinancialandTorresStraitIslanderculturallityaccessandinclusionawarenessturalandlinguisticRespectfulrelationshipsdomesticandfamilyviolencesafetyandreferralsrceCityofSydneyBusinessNeedsSurveyBusinessBusinessNeedsSurvey2022terdependentindustriesarestrugglingfinanciallyandlookingforsupport.mofrBusinessNeedsSurvey2022AnalysisofKeySectorsThischapterprovidesananalysisofthekeysectorsdrawsontheinsightsintheBusinessNeedsSurveyaswellasothertrendsThischaptercoversthesixlargestriesbasedonthenumberofrespondentstheBusinessNeedsSurveyprofessionalesretailhospitalitytourismcreativeindustriesandfinancialservices.inconsumerdependentindustriesalityretailandtourismaregenerallystillrecoveringfromtheCovid19pandemicandwnsConsumerdependentbusinesseshavecitedthatthereductioninfoottraffichasresultedajorlossinbusinessparticularlyfromofficeworkerschoosingtoworkfromhome.Consumer-dependentbusinessesaregenerallylookingforsupportintheformoffinancialaid(businessgrantsandorsupportwithgovernmentfeesandprecinctpromotion,marketingandeventstoboostfoottraffic.utperEmployeeSydneygenerallylessaffectedbytheCovid19pandemicandlockdownsasmanywereabletoshifttheiroperationstowardhybridworking.RepresentsthechangeforNSW%RepresentsthechangeforNSW%dustriesaremixedSomebusinessesrtedlittlechangeorpositiveoutcomessuchashileothershavereportedtheoppositelowerproductivity)alongsidestruggleswithmaintainingworkplacecultureandcollaboration.Thisisalsoreflectedinthevalueofoutputperemployeewhichdiffersacrossofficebasedindustries.AllindustriesProfessionalservicesFinancialservicesPrepandemicAllindustriesProfessionalservicesFinancialservicesPrepandemicisdefinedastheaveragebetween2015-2019peandregulationaswellasassistancewithfindingskilledemployees.omyidBusinessNeedsSurvey202220VisitationtothecitybyReasonforVisit:ComparisontoPre-CovidLevelseJan21May21Sep21Jan22May22Sep22Retail&recreationGrocery&pharmacyWorkplacesourceGooglecommunitymobilitydataversriesfyicesdGooglemobilitydataareaggregatedfromuserswhohadturnedonthe‘locationhistorysettingsontheirmobiledevices.lPositionstriesreofrespondentsrepresentstheaverageacrossallindustries80%0%%lyworseoffandpessimisticReferstobusinessesfinancialpositionthisyearcomparedtopreviousyearandtheexpectationoftheirfinancialpositionoverthenextyear.rceCityofSydneyBusinessNeedsSurveylyworseoffbutoptimisticbetteroffandoptimisticlyroffbutticlyBusinessNeedsSurvey2022lPositionesreofrespondentsrepresentstheaverageacrossallindustries80%0%%lyworseoffandpessimisticReferstobusinessesfinancialpositionthisyearcomparedtopreviousyearandtheexpectationoftheirfinancialpositionoverthenextyear.rceCityofSydneyBusinessNeedsSurveylyworseoffbutoptimisticlybetteroffbutpessimisticbetteroffandoptimisticlyfofar““StaffingExpectationsovertheNext12Months:RetailvsAllIndustries0%%Increase0%%IncreaseDecreaseRemaintheUnsuresamerceCityofSydneyBusinessNeedsSurveyrepresentstheaverageacrossallindustries80%BusinessBusinessNeedsSurvey2022““ipsComparisontoPreCovidLevelschangebetweenJune19andJune2022triprnighttripsalrnighttripsffitehAustraliaBusinessNeedsSurvey2022lPositionreofrespondentsrepresentstheaverageacrossallindustries80%0%%lyworseoffandpessimisticReferstobusinessesfinancialpositionthisyearcomparedtopreviousyearandtheexpectationoftheirfinancialpositionoverthenextyear.rceCityofSydneyBusinessNeedsSurveylyworseoffbutoptimisticlybetteroffbutpessimisticbetteroffandoptimisticly23lPositionsesreofrespondentsrepresentstheaverageacrossallindustries0%%lyworseoffandpessimisticReferstobusinessesfinancialpositionthisyearcomparedtopreviousyearandtheexpectationoftheirfinancialpositionoverthenextyear.rceCityofSydneyBusinessNeedsSurveylyworseoffbutoptimisticbetteroffandoptimisticlyroffbutticlycebasedbusinessesinthecreativehavegenerallyembracedworkingesreportedinefficiencywithsucharrangements.rformanceintheofficebasedcreativeindustriesismixedOfficebasedbusinessesintheeativeindustrycapturebusinessesadvertisingraredofrlPositionstiveIndustriesvsAllIndustriesreofrespondentsrepresentstheaverageacrossallindustries0%20%lyworseoffandpessimisticReferstobusinessesfinancialpositionthisyearcomparedtopreviousyearandtheexpectationoftheirfinancialpositionoverthenextyear.rceCityofSydneyBusinessNeedsSurveylyworseoffbutoptimisticbetteroffandoptimisticlyroffbutticlyBusinessNeedsSurvey202224consumerdependentbusinessesinThisreflectsimprovingbusinessconditionswiththey“exhibitionswhichresultedinlossofincome“andneedingreschedulefutureexhibitions.essesinthecreativeindustrieshavefocusedonimprovingtheirdigitalservicesinthepastyear.ngye5BusinessNeedsSurvey20225rarhalflPositionsvicesvsAllIndustriesreofrespondentsrepresentstheaverageacrossallindustries0%%lyworseoffandpessimisticReferstobusinessesfinancialpositionthisyearcomparedtopreviousyearandtheexpectationoftheirfinancialpositionoverthenextyear.rceCityofSydneyBusinessNeedsSurveylybetteroffandoptimisticlyworseoffbutoptimisticlybetteroffbutpessimisticStaffingexpectationsoverthenext12months:Professional&BusinessServicesvsAllIndustriesreofrespondentsrepresentstheaverageacrossallindustries80%0%%IncreaseDecreaseRemaintheUnsuresamerceCityofSydneyBusinessNeedsSurveyssofThisislikelytocomplementthehybridworkironmentassomebusinesseshaveexperiencedfficultiesincommunicationwithbothemployeesandclientsoveronlinemediumssuchasemailsandvideocalls.esintheprofessionalbusinessservicesryhavemostlyrequestedsupportintheformbusinessgrantsThesebusinessesarealsostedinoperationalsupportsuchasreducingandregulationandprovidingassistancewithfindingskilledemployees.BusinessBusinessNeedsSurvey202226“reofrespondents%%7%“reofrespondents%%7%Splitbetweenloca