Not an easy time to be running a business
ABS data shows 'while the pressure from fuel prices had eased, there were more businesses that had noted higher costs'.
ALMOST half of Australian companies say it’s getting harder and more expensive to do business.
New data from the Australian Bureau of Statistics shows 46 per cent reported that operating expenses had gone up in the past four weeks.
“While the pressure from fuel prices had eased, there were more businesses that had noted higher costs,” said Tom Lay, ABS head of business statistics.
“The main reasons behind these higher costs included rising business overheads for 65 per cent, staffing related costs for 40 per cent and upcoming finance or debt commitments for 19 per cent.”
Businesses with a heavy reliance on fuel were more likely to report operating expenses had gone up.
These included agriculture, forestry and fishing (72 per cent), manufacturing (55 per cent), accommodation and food services (55 per cent) and transport, postal and warehousing (49 per cent).
More than four in five of businesses in professional, scientific and technical services (84 per cent) reported business overheads as a factor for rising operating expenses, up 29 per cent since last month.
Almost two thirds of businesses (60 per cent) in construction also reported higher operating expenses.
Almost one in seven small businesses (13 per cent) indicated they needed financial or advisory assistance or support and over one third (36 per cent) indicated they would seek assistance in the next four weeks.
Businesses continue to adjust their operations in response to fuel prices and availability.
Almost half (44 per cent) had absorbed cost increases, 15 per cent increased prices and six per cent introduced a fuel surcharge or levy.
