In a survey conducted in Australia in January and February 2024, 40 percent of small and medium enterprises (SMEs) said that the greatest challenge they expected to face this year was the difficult economic outlook and ongoing cost pressures. 31 percent of respondents said that keeping pace with changing customer behaviors and preferences was the largest challenge for this coming year.
Anticipated challenges to small and medium enterprises (SMEs) in Australia in 2024
Characteristic
Share of SMEs
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Key decision makers/influencers at small and medium enterprises from all industry sectors across Australia responded to the survey. Data is weighted to reflect the distribution by industry, number of employees, and state.
Supplementary notes
Businesses with between 1-500 employees included in sample.
Original question: 'Which of these issues do you anticipate will pose the most significant challenges to your business in 2024?'.
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fifth quadrant. (February 7, 2024). Anticipated challenges to small and medium enterprises (SMEs) in Australia in 2024 [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1453121/australia-anticipated-challenges-to-smes/
fifth quadrant. "Anticipated challenges to small and medium enterprises (SMEs) in Australia in 2024." Chart. February 7, 2024. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1453121/australia-anticipated-challenges-to-smes/
fifth quadrant. (2024). Anticipated challenges to small and medium enterprises (SMEs) in Australia in 2024. Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1453121/australia-anticipated-challenges-to-smes/
fifth quadrant. "Anticipated Challenges to Small and Medium Enterprises (Smes) in Australia in 2024." Statista, Statista Inc., 7 Feb 2024, https://www.statista.com/statistics/1453121/australia-anticipated-challenges-to-smes/
fifth quadrant, Anticipated challenges to small and medium enterprises (SMEs) in Australia in 2024 Statista, https://www.statista.com/statistics/1453121/australia-anticipated-challenges-to-smes/ (last visited August 24, 2024)
Anticipated challenges to small and medium enterprises (SMEs) in Australia in 2024 [Graph], fifth quadrant, February 7, 2024. [Online]. Available: https://www.statista.com/statistics/1453121/australia-anticipated-challenges-to-smes/