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Cashflow remains the top concern for 40% of small and medium business owners, according to NAB’s latest SME Business Insights report.
The report found that challenges like rising costs and profitability pressures are also growing. But there’s some good news too with concerns about government policies, work-life balance and fuel prices easing, offering small businesses some relief.
Black Friday and Cyber Monday also delivered a boost, with NAB merchant data showing a 23% increase in sales compared to a typical weekend, especially for retailers, bars and restaurants.
Regionally, cashflow worries dominate in Victoria and NSW, while labour shortages hit Queensland and SA hardest. Profitability is the main issue for WA businesses, and inflation is squeezing wholesalers.
NAB Business Direct’s Krissie Jones said small business owners are resilient but face persistent challenges, emphasising the need to cut red tape to support them.
“Small business owners remain alive to ongoing risks around cashflow, profitability and access to capital, as well as hiring and retaining staff, which are greater concerns in smaller states and regional areas,” she said.
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