Small business sales at their lowest since September 2021

Jobs in hospitality were down 3.7% year-on-year. (Image: Getty)

Thu, 25 Aug 2022

Small business sales slumped last month to their lowest level since September 2021 as the cost of living started to bite, according to Xero's latest index.Xero released its latest Small Business Index for July this morning, which found sales fell to a negative 1.5% on the index, down from 4.4% year-on-year growth in June – the lowest level since September last year.Xero country manager Bridget Snelling said with inflation at 7.3%, the volume of goods and services sold was much lower and price increases were hiding the real drop in sal...

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