• Advertise
  • About us
  • Terms and Conditions
  • Contact us
Saturday, June 21, 2025
Australian Times News
  • News
    • Weather
    • Sport
    • Technology
    • Business & Finance
      • Currency Zone
    • Lotto Results
      • The Lott
  • Lifestyle
    • Entertainment
    • Horoscopes
    • Health & Wellness
    • Recipes
  • Travel
  • Expat Life
  • Move to Australia
No Result
View All Result
  • News
    • Weather
    • Sport
    • Technology
    • Business & Finance
      • Currency Zone
    • Lotto Results
      • The Lott
  • Lifestyle
    • Entertainment
    • Horoscopes
    • Health & Wellness
    • Recipes
  • Travel
  • Expat Life
  • Move to Australia
No Result
View All Result
Australian Times News
No Result
View All Result
Home News

Small businesses’ adoption of online operating model likely to stay

Many of the small Australian businesses that moved online as a result of the pandemic will now make the change permanent, a study has found.

Mike Simpson by Mike Simpson
07-12-2020 03:00
in News
Some SMEs have been more easily able to move online than others. Image by Zahari Baharom from Pixabay

Some SMEs have been more easily able to move online than others. Image by Zahari Baharom from Pixabay

Almost half of Australian small- to medium-sized enterprises (SMEs) have changed their business model to adapt to financial disruption caused by the Covid-19 pandemic, with one in five of those embracing online trading in a significant way.

The results from Westpac’s SME Covid-19 Tracking Report, which is an ongoing weekly pulse check of small- to medium-sized businesses throughout the pandemic, shows 42% of the businesses that moved online as a result of the pandemic will now make the change permanent.

Over 50% of revenue from online

According to details released by the banking giant, of the SMEs that operated both an online and a physical store during Covid-19, 52% of revenue came from their online store, while 48% of income came from the physical store.

In terms of sectors which moved their businesses entirely online during the pandemic, education and training (23%) led the way, followed by arts and recreation (13%) and retail trade (12%). However, only 5% of food and beverage businesses were able to move online completely, further proof that the hospitality industry has been hit extremely hard.

Ten percent of SMEs that operated only a physical store at the start of the year have moved online completely, 6% have kept their physical store and also started trading online, while 71% have kept just a physical store.

Aussie SMEs are extremely resilient

Around eight in 10 SMEs have had a reduction in revenue as a result of Covid-19.

Westpac’s Lali Wiratunga said the results from the Covid-19 Tracking Report showed how resilient Australian small- and medium-sized businesses could be when faced with a once-in-a-generation challenge.

AlsoRead...

Leading with Trust: Why Quality still wins in the AI Era

Leading with Trust: Why Quality still wins in the AI Era

5 June 2025
Why Australian Investors are Betting on the Aviation Maverick Louis Belanger-Martin

Why Australian Investors are Betting on the Aviation Maverick Louis Belanger-Martin

28 May 2025

“This year has been extremely challenging for many small businesses, but many have adapted. We’ve seen more change in the way businesses operate in the last year than we’ve seen in a very long time,” Wiratunga stated.

Of the SMEs that permanently moved their business online, 74% say moving the business online has made it easier to run, 60% believe going online has reduced operating costs, and 59% say moving online has increased revenue.

Online resources must be planned

“Going online may also require a substantial amount of extra work and staffing. SMEs should consider and plan for how to effectively resource the online component of the business, while also running their traditional business,” Wiratunga said.

“It’s also worth investigating what can be done to use online tools to better serve existing customers and communities before thinking about selling to new customers.

“There are quick wins that could be explored, like making better use of your businesses’ social media channels to connect with customers,” he added.

“From here you could review and prioritise opportunities for improvement across the business, for example by using artificial intelligence, automation and machine learning, you can better understand, anticipate and respond to improve the customer experience.”

Tags: businessBusiness Impacts of Covid-19Small businessWestpac
DMCA.com Protection Status

SUBSCRIBE to our NEWSLETTER

[mc4wp_form id=”2384248″]

Don't Miss

From Portugal to Bali: Where Aussies Should Go for Your Next Coastal Holiday

by Fazila Olla-Logday
20 June 2025
Source: Flickr
Travel

Aussies, here is a guide to where you should go for your next coastal holiday.

Read more

Leading with Trust: Why Quality still wins in the AI Era

by Pauline Torongo
5 June 2025
Leading with Trust: Why Quality still wins in the AI Era
Business & Finance

If you're leading a software team today, you've likely noticed the shift: faster feature rollouts, routine automation, and AI taking...

Read more

How to Save on Airport Parking: Budget Tips Every Traveller Should Know

by Fazila Olla-Logday
3 June 2025
How to Save on Airport Parking
Travel

Saving money on airport parking can be a challenge,but here are some budget friendly tips to help you navigate.

Read more

Why Australian Investors are Betting on the Aviation Maverick Louis Belanger-Martin

by Pauline Torongo
28 May 2025
Why Australian Investors are Betting on the Aviation Maverick Louis Belanger-Martin
Business & Finance

Bélanger-Martin’s ambitions stretch beyond redefining inflight comfort—they’re rooted in resurrecting the romance of supersonic travel with a modern twist.

Read more

Why a Gluten Free Hamper is simply the Best Gift for a Coeliac

by Fazila Olla-Logday
22 May 2025
Gluten Free Hamper
at

Buying a thoughtful gift can be tricky at the best of times, but when someone has dietary restrictions like coeliac...

Read more

Biela.dev is quietly becoming the Infrastructure Layer for the Next Internet

by Pauline Torongo
15 May 2025
Biela.dev is quietly becoming the Infrastructure Layer for the Next Internet
Technology

Biela.dev is not merely a consumer app; it is infrastructure. It could be a layer that powers the next generation...

Read more

The Battle for the Premier League’s Fifth Champions League Spot: Who Will Prevail?

by Fazila Olla-Logday
8 May 2025
Premier-Leagues-Fifth-Champions-League-Janosch-Diggelmann-Unsplash
at

As the Premier League season nears its climax, the race for the coveted Champions League places is tighter and more...

Read more
Load More

Copyright © Blue Sky Publications Ltd. All Rights Reserved.
australiantimes.co.uk is a division of Blue Sky Publications Ltd. Reproduction without permission prohibited. DMCA.com Protection Status

  • About us
  • Write for Us
  • Advertise
  • Contact us
  • T&Cs, Privacy and GDPR
No Result
View All Result
  • News
    • Weather
    • Sport
    • Technology
    • Business & Finance
      • Currency Zone
    • Lotto Results
      • The Lott
  • Lifestyle
    • Entertainment
    • Horoscopes
    • Health & Wellness
    • Recipes
  • Travel
  • Expat Life
  • Move to Australia

Copyright © Blue Sky Publications Ltd. All Rights Reserved.
australiantimes.co.uk is a division of Blue Sky Publications Ltd. Reproduction without permission prohibited. DMCA.com Protection Status