Business SA has revealed the one-week lockdown in July cost regional South Australia up to $83 million.
The State’s Chamber of Commerce and Industry surveyed its members on the financial and mental health implications of the July lockdown.
Unlike previous lockdowns, substantive losses were not isolated to the accommodation, tourism, and hospitality sectors.
For restricted sectors, revenue losses ranged from a median of $10,000 for employers in the cultural and recreational services sector to $45,000 for employers in the construction sector, while median direct costs for all businesses under $2m turnover were $3,500, compared to $25,000 for businesses over $2m in turnover.
The state-wide economic impact cost SA businesses up to an estimated $446 million.
Of the survey respondents, 73 per cent said they experienced mental health impacts within their organisations as a result of the lockdown.
In a report sent to the State Government this week, Business SA expressed the need for scalable support in the case of future lockdowns, ensuring financial support doesn’t fail the needs of the most heavily impacted businesses.
The State Government says in total, so far since the 7-day lockdown, more than $85 million in cash grants have been paid to almost 30,000 South Australian small and medium businesses.
For more information about available grants, head to the Treasury SA website.
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