Businesses 'did it tough last FY'

Around 50 per cent of Australian businesses recorded no revenue growth last financial year, but they expect things to improve, a survey shows.

Mining giant BHP Billiton says it will run a tighter iron ore business as demand begins to slow.

Around half of Australian businesses say they recorded no revenue growth in the past 12 months, but most believe the future is looking brighter.

A survey of almost 450 business owners and executives found 51 per cent of companies experienced no revenue growth during the 2012/13 financial year.

But the Australian Business Growth Monitor, produced on behalf of office space provider Servcorp, also showed 60 per cent of those surveyed expect revenue to pick up in 2013/14.

"These forecasts are in line with broader optimism about the Australian economy," Servcorp chief executive Marcus Moufarrige said.

Many of those surveyed cited difficult economic conditions, reduced consumer spending and increased competition as significant barriers to growth.

The survey also showed around two-thirds were dissatisfied with the level of federal government support.