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Measuring the confidence and performance of small businesses across NSW

 

Small Business Momentum Survey

August 2023

 

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Confidence

 

30% of businesses indicated they were confident in their individual business prospects.

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Concerns

 

82% of businesses indicated they were concerned about the cost of business inputs. 

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Momentum

 

The Momentum Index* increased by 4.6 points between July and August to 88.7 index points.

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Staff

 

50% of businesses that have plans to expand are looking to hire additional staff. 

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Expansion

 

35% of businesses indicated they have plans to grow, alter or expand operations. 

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Revenue

 

17% expect revenue to increase, compared to 34% expecting a decline.