Business confidence plummets

As Omicron surges, business confidence is plummeting, according to a new Business NSW survey.

Forty per cent of the more than 2,000 business owners surveyed said they did not have enough cash flow for the next three months.

Business NSW chief executive Daniel Hunter said as a result, businesses were putting off staffing and capital expenditure decisions.

"Unlike previous surveys throughout 2021, where business owners felt the next quarter would get better, that isn't the case this time as there are no government support packages in place," he said.

The body is urging the state government to consider short-term targeted support for businesses that are highly impacted by the surge in COVID-19 cases.