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Small and medium business owners were already struggling with staff issues in the second half of 2021, well before the January 2022 Omicron spike exacerbated their staff shortage woes, according to a national research by leading SME non-bank lender ScotPac.

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Concerns around navigating government grants, cash flow, and “skyrocketing” staffing issues are front and centre for small-business owners, according to a survey.

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The latest small businesses report by leading SME non-bank lender ScotPac, shows that Omicron has further exacerbated staff and compliance worries for SMEs. 

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In the more advanced markets, private banks are adopting more ESG factors in their investment decision-making as more enterprises are adopting ESG principles.

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SME owners are much more likely to turn to someone for business advice in 2021 than they were four years ago, according to a study by Australia and New Zealand’s largest specialist SME non-bank lender ScotPac.

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Almost 80 per cent of small and medium sized businesses reported having cashflow issues over the past year, with many dealing with the issue in ways they had never before considered.

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With border closures and lockdown restrictions changing on a regular basis, SME owners are looking beyond these limitations to see how their businesses can adapt and grow. 

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