Over a third of SMEs face funding shortfall

One in five local small to medium businesses saw their revenue improve over the 12 months to March. (Image: Depositphotos)

Staff reporters

Mon, 03 Apr 2023

Roughly 38% of local small to medium business leaders could only sustain their businesses for up to six months before they need to look for additional funds, this year’s MYOB Business Monitor has found. The nationwide survey of more than 1000 small and medium-sized enterprise (SME) owners, directors and managers highlighted that the ongoing impact of inflation and the Reserve Bank’s efforts to control it are taking its toll.It found a third of local SME decision-makers are "quite" or "very" concerned about t...

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