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SMEs Taking Proactive Steps and Displaying Encouraging Trends – ScotPac SME Growth Index

SMEs Taking Proactive Steps and Displaying Encouraging Trends – ScotPac SME Growth Index

(4 September 2023 – Australia) In the past six months, Australian SMEs have navigated through unprecedented business conditions through a challenging period yet the latest SME Growth Index findings reveal some truly encouraging trends.

  • A remarkable 56 percent of Australian SMEs predict positive revenue growth in 2023 - the highest in seven years!
  • Rising wages remain a top concern, especially for businesses with revenue under A$5 million.
  • Non-bank borrowing demand has skyrocketed, with speed and ease of transactions being key drivers

“I'm thrilled to share the latest insights from Australia’s longest-running SME business sentiment study - the biannual ScotPac SME Growth Index Report. Created in partnership with East & Partners the report provides insight into the thoughts of SME owners and managers towards a broad range of issues” commented ScotPac CEO Jon Sutton.

“The proactive steps SMEs are taking to bolster supply chain resilience has been the standout theme. Many are now prioritising domestic suppliers, signalling a boost for our local manufacturers and service providers. As we celebrate 35 years of supporting SMEs, ScotPac remains committed to highlighting the opportunities and challenges faced by our business community” Mr Sutton added.

Delve deeper into the report -

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