Small businesses at risk as costs soar

Tough economic conditions, including higher petrol prices, are increasing financial pressure on many of Australia’s 2.3 million small businesses – and some are struggling to survive.

Western Sydney small business owner Talal Almardoud. Credit: SBS-Sandra Fulloon

Key Points

• Fuel costs, rising interest rates and soaring inflation are all having an impact on businesses.
• Creditorwatch is closely monitoring key indicators of business insolvencies.
• Many of Australia’s 2.3 million small and medium business owners may face insolvency this financial year.

LISTEN TO THE INTERVIEW

Filipino 11 Oct Smallbiz Talal RNF final

Small businesses at risk as costs soar

06:37

Those at highest risk are based in south-east Queensland and western Sydney, which CreditorWatch says have higher-than-average rates of personal insolvency and lower than average incomes.

How to listen to this podcast. Credit: SBS Filipino