Allianz survey shows negative impact of high petrol prices on small businesses

7 June, 2007

“A survey by Allianz Australia Insurance indicates that high petrol prices have a significant impact on the turnover of small businesses”, said Nicholas Scofield, General Manager Corporate Affairs.

The survey involved 300 small businesses with up to 25 employees. Two-thirds of respondents had between 1 and 4 employees and one-third between 5 and 25 employees.

According to Mr Scofield, “34% of the businesses surveyed said that high petrol prices caused a decrease in their business turnover.”

“Of those businesses that reported that high petrol prices caused a decrease in their turnover, 46% reported a decrease of between 1% and 10%, and 30% reported a decrease in turnover of between 11% and 20%”, he said.

Mr Scofield stated, “with nearly one-third of small businesses reporting that high petrol prices caused a decrease in turnover of more than 10%, increases in petrol prices are clearly something that should be kept to a minimum, particularly if increases are not justified by market fundamentals, such as movements in oil prices.”

Media Enquiries: Allianz Australia Insurance Ltd
Nicholas Scofield
(02) 9390 6596
0416 088 414

Allianz Australia offers a wide range of insurance products and services including car insurance, home insurance and Life insurance.