In Australia, according to a survey conducted in May 2024, 29 percent of small and medium enterprises (SMEs) planned to streamline their business operations to deal with the challenges posed by ongoing inflation and increasing costs in 2024. Only nine percent of SMEs planned to implement workforce reductions to recover costs.
Response of small and medium enterprises (SMEs) to address ongoing economic challenges in Australia in 2024
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: 'How is your business responding to the challenges posed by ongoing inflation and increasing costs?'.
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fifth quadrant. (June 12, 2024). Response of small and medium enterprises (SMEs) to address ongoing economic challenges in Australia in 2024 [Graph]. In Statista. Retrieved December 04, 2024, from https://www.statista.com/statistics/1453336/australia-smes-response-to-economic-challenges/
fifth quadrant. "Response of small and medium enterprises (SMEs) to address ongoing economic challenges in Australia in 2024." Chart. June 12, 2024. Statista. Accessed December 04, 2024. https://www.statista.com/statistics/1453336/australia-smes-response-to-economic-challenges/
fifth quadrant. (2024). Response of small and medium enterprises (SMEs) to address ongoing economic challenges in Australia in 2024. Statista. Statista Inc.. Accessed: December 04, 2024. https://www.statista.com/statistics/1453336/australia-smes-response-to-economic-challenges/
fifth quadrant. "Response of Small and Medium Enterprises (Smes) to Address Ongoing Economic Challenges in Australia in 2024." Statista, Statista Inc., 12 Jun 2024, https://www.statista.com/statistics/1453336/australia-smes-response-to-economic-challenges/
fifth quadrant, Response of small and medium enterprises (SMEs) to address ongoing economic challenges in Australia in 2024 Statista, https://www.statista.com/statistics/1453336/australia-smes-response-to-economic-challenges/ (last visited December 04, 2024)
Response of small and medium enterprises (SMEs) to address ongoing economic challenges in Australia in 2024 [Graph], fifth quadrant, June 12, 2024. [Online]. Available: https://www.statista.com/statistics/1453336/australia-smes-response-to-economic-challenges/
