A third of Australia's small- and medium-sized businesses plan to cut jobs over the next 12 months as they lose confidence in the economy.
They also are looking for more overseas customers in order to grow, according to a survey of 2,300 Australian small- and medium-sized enterprises (SMEs) by money transfer firm Western Union Business Solutions.
The results show that 68 per cent of businesses surveyed believe the Australian economy has deteriorated in the past year.
"As a result of this negative outlook, 33 per cent of SME operators plan to decrease head count over the next 12 months, with just one per cent planning to hire additional staff," Western Union Business Solutions said on Monday.
"This comes in the wake of the recent rise in unemployment figures to 6.3 per cent, the highest rate in 12 years."
The businesses are looking towards emerging international markets for growth, such as Brazil, Russia, China, India and South Africa.
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