A crucial criteria for receiving JobKeeper – business revenue – has bounced the most in six months, according to data collected from over 100,000 companies.
Xero Small Business Insights, in partnership with research firm AlphaBeta, shows that small business revenue grew 5.2 per cent year-on-year for the month of September driven by an easing in restrictions and government stimulus.
The extraordinary jump is higher than any month since the COVID crisis began and is even higher than the average year-on-year growth pre-COVID of 4.6 per cent.
Victoria, where many restrictions continued through September, recorded a 0.4 per cent rise year-on-year, partially because regional Victoria saw an easing in restrictions. This is a significant turnaround from the 6 per cent year-on-year decline recorded in August for Victoria.
In August the government amended the eligibility criteria for the $101 billion JobKeeper Payment.
reference:https://www.afr.com/policy/economy/business-revenues-bounce-out-of-jobkeeper-eligibility-20201027-p5690e
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