Small Business Momentum Survey
February 2023

Confidence
34% of businesses indicated they were confident in their individual business prospects.

Concerns
89% of businesses indicated they were concerned about the cost of business inputs.

New challenges
The RBA increasing interest rates to 3.35% for a record ninth consecutive hike.

Staff
45% of businesses that have plans to expand are looking to hire additional staff.

Expansion
37% of businesses indicated they have plans to grow, alter or expand operations.

Revenue
21% expect revenue to increase, compared to 29% expecting a decline.