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Three quarters of Australian SMEs impacted by Covid expect to recover by end of 2023
New research from SME travel management provider Corporate Traveller has revealed the hopeful outlook Australian small-to-medium sized businesses have for their future recovery .
The survey found that while 78 % of Australian SMEs were negatively impacted by the global pandemic , 76 % of them to recover by the end of 2023 – or have already recovered . Just two per cent revealed they will never recover or had closed their business in the last two years .
Tom Walley , global managing director for Corporate Traveller , said : “ Many SMEs experienced financial hardship or were forced to hibernate , and even close , during the pandemic . With business success on the horizon , Australia ’ s economy can also enjoy a much-needed boost .”
Businesses were also asked to identify the factors , from a list of 11 , that they believe will aid their recovery – and Australia ’ s economic recovery was chosen by more than half ( 57 %) of respondents . Meanwhile , 38 % said a return to travel would help their business recover and 36 % said returning to the workplace to boost employee engagement and productivity would help .
Recruiting better and additional talent was cited by 31 % of SMEs , higher consumer confidence in the economy would help 30 % and reduced inflation would assist 27 %. Better technology and government stimulus would help 23 % and 21 % of businesses , respectively .
Tom adds : “ Thanks to the recently announced Federal Budget , more SMEs will be able to tap into the very resources and assistance they said they needed to hasten their recovery . Businesses will also be able to access new technologies and tax relief for training to upskill their employees . I also believe that a return to faceto-face communication will play an important role in the recovery . “ Travel will be an important strategy , whether SMEs DIY their own travel or use a travel management provider to help navigate the new , complex environment . Reinvigorating travel programs that were paused or investing more in travel this year will help drive sales and growth opportunities . As more countries open , businesses will also be able to recruit overseas talent and expand into new markets .”. S
Sleep styles for success
The busier we get , the lower a priority sleep can become and for some ‘ powering through ’ with little sleep can be a sign of strength . Yet sleep is one of the body ’ s most important physiological processes , allowing the body and mind to recharge plus giving it the opportunity to repair . With sleep , physical and cognitive performance improve – something every EA wants and needs !
Want to get your sleep habits into tip-top condition ? Take heed of these top tips from sleep guru Dr . Mubaris Ahamed at Zulal Wellness Resort : w The best time for sleep is from 10pm until just before sunrise – ‘ early to bed and early to rise ’ rings true here . w The best posture for sleep is lying on your right-hand side . This allows food in the stomach to move towards your intestines more easily , and it ’ s good for your pancreas and liver , too . As the heart is more inclined to the left side of the body , lying on the right decreases pressure on the heart . w Incorporating banana , grapefruit , lettuce , sweet potato , walnut , herbal tea , turkey , some red meat and whole grain into your daily diet can help with insomnia . w Dinner should be consumed at least three hours before bed , with a walk 30 minutes after to aid digestion . w Napping after lunch can be beneficial but should only last 20 to 30 minutes . Up to 60 minutes during summer is fine , though . w Excessive sleep can give rise to too much cold and moisture in the body , which leads to depleted energy levels , disturbed digestion and metabolism , and a dulling of the mental faculties . w Those who have trouble falling asleep should try drinking chamomile tea , taking five grams of ashwagandha with warm milk , or applying five drops of sweet almond or violet oil to the top of the skull . S
14 Executive PA | Winter Issue 2022