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Just over half of Australia’s small business owners (51%) reported reaching a milestone this year, while almost a third (32%) said it had been more than three years since their last, according to new research from Xero.
Despite 59% recognising the importance of celebrating wins, only 21% actually take the time to mark each achievement.
Owners who celebrated milestones reported stronger employee wellbeing (80%), higher performance (79%) and improved morale (78%). Yet common milestones such as repeat customers (50%), paying themselves a salary (47%) or receiving positive reviews (41%) often go unrecognised.
Macroeconomic pressures such as inflation and higher interest rates were cited by 83% of owners as barriers to achieving milestones, alongside product mix (53%) and staffing factors (46%). Still, those who did stop to acknowledge their progress said they felt happier (67%), more energised (71%) and saw a lift in productivity (70%). This is evidence that small wins can help drive long-term success.
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