The Australian Industry Group’s annual survey of CEO expectations has found that just 17 per cent of company bosses are expecting the supply chain crisis to ease this year, while 75 per cent are expecting further impacts due to labour shortages.
These sobering results come from a poll of 346 Aussie CEOs, 88 per cent of which had experienced pandemic-related disruptions within the past year.
“On balance, Australia’s business leaders are cautiously hopeful that 2022 will be a year of improved business conditions, moderate growth and further employment creation,” Australian Industry Group chief executive Innes Willox said.
“Businesses are moving to a living with COVID footing after two years during which, as a nation, we bought time by isolating and then vaccinating ourselves.”
46 per cent believe business conditions will improve this year, with 24 per cent expecting things to get worse.
Alas, only 33 per cent expect their gross profit margins to increase this year.
