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Australian small businesses are resilient, despite slow sales growth. This is according to the latest data on the country’s small business economy released by the Xero Small Business Index.
Sales rose by 5.5% year-on-year in September and averaged 6.2% growth in the three months to September compared to the same period last year. This is below the pre-covid average of 7.5% year-on-year.
Industries that showed the most year-on-year sales growth in the September quarter were healthcare (13.2%), education & training (10.5%), construction (8.1%) and public administration & safety (7.7%).
The weakest industries in the three months to September were agriculture, down by 6.2%, wholesale trade, down by 1.1%, and retail trade, down by 0.8%.
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