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Rising operational costs (including insurance, and salaries), workforce shortages, declining sales growth and evolving regulatory obligations are dominant features across the Australian business landscape, with small businesses particularly challenged by the current economic conditions.
Around four in ten small businesses do not make a profit and three-quarters of small business owners earn below the average wage.
The Council of Small Business Organisations Australia (COSBOA) has released a report outlining small businesses’ experiences at present.
The report can be downloaded here
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