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Measuring the confidence and performance of small businesses across NSW

 

Small Business Momentum Survey

October 2022

 

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Confidence

 

31% of businesses indicated they were confident in their individual business prospects.

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Concerns

 

83% of businesses indicated they were concerned about the cost of business inputs. 

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New challenges

 

23% of businesses indicated they need staff but haven’t considered hiring a skilled migrant.

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Staff

 

57% of businesses that have plans to expand are looking to hire additional staff. 

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Expansion

 

32% of businesses indicated they have plans to grow, alter or expand operations. 

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Revenue

 

18% expect revenue to increase, compared to 31% expecting a decline.