Most refrigeration and air conditioning businesses, especially those in retail, have struggled to maintain operations throughout the COVID-19 pandemic.
These are typically small to medium sized businesses that tend to be hardest hit during a crisis.
According to data released yesterday by the Australian Bureau of Statistics (ABS) more than one third of Australian businesses say they struggle to pay bills.
Of the 1202 responding businesses, 35 per cent said they find it difficult or very difficult to pay their bills.
Small and medium sized businesses were much more likely to report they were struggling to meet financial commitments.
Some 35 per cent of small businesses and 33 per cent of medium businesses reported they were struggling compared to 18 per cent of large businesses.
The industries hardest hit were hospitality, transport and warehousing.
While revenue fell for nearly 41 per cent of businesses last month, operating costs increased for 22 per cent.
Business owners do not expect relief, with 28 per cent of respondents saying they expect further falls in revenue next month.
2020 has been a tough year which is why it is important to try and end the year on a positive note. Take time to focus on the best our industry has to offer and that is what the HVACR Leadership Awards are all about, especially the Contractor of the Year Award.
This award is sponsored by Mitsubishi Heavy Industries Air Conditioning Australia (MHIAA), an organisation that supports Australian contractors and their success.
There is only one week left to nominate go to www.climatecontrolnews.com.au/awards