The September 2014 MYOB Business Monitor Report, released today, has highlighted a relatively stable level of revenue growth among Aussie SMEs and a continuation of the downward trend in falling revenue.
According to the latest findings from MYOB, 31 per cent of SMEs reported a decrease in annual revenue in the 12 months to August 2014, while 21 per cent reported an increase and a further 42 per cent reported a steady level of revenue over the past 12 months.
Looking ahead to next year, MYOB found that almost a third of SME business owners (32 per cent) expect to see revenue increase in the next 12 months, though down slightly from 34 per cent in MYOB’s March survey. A reduced number of businesses also expect revenue to decline in the year to August 2015, down from 22 per cent in March to 18 per cent in the latest survey.
Other findings from the survey include:
- 24 per cent of SME operators expecting the economy to improve in the next year – up slightly from 23 per cent a year ago.
- 36 per cent of business operators reporting more work or sales booked in the next 12 months, up from 33 per cent in the March 2014 Business Monitor.
MYOB CEO Tim Reed said that while running a small business in the current economic environment is not easy, many Aussie business owners are beginning to see their hard work pay dividends.
“This survey again reinforces how resilient our SME community is and underscores how important they are to the economy as a whole,” Reed said. “It is particularly heartening to see many more businesses looking forward to an improved end to the year, and confident about what 2015 will bring.”
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