7 in 10 Aussie small businesses confident about growth and feel healthy

● 80% expect revenue to increase or stay the same over the next 12 months.

● 25% are worried about unpredictable or unstable revenue, a significant reduction compared to April 2022.

● 26% expect to access external funds over the coming 12 months.

Small businesses are feeling confident about the future with 70% rating the health of their business as good or very good, according to recent research conducted by YouGov.

This reveals that the positivity exists among small businesses despite the tough operating environment. Business owners are displaying hard work and creativity, which is being rewarded with reduced concerns around revenue compared to April 2022. As a result, 8 out of 10 small business owners are expecting increased or stable revenue over the next 12 months.

One of the ways small businesses are thriving is by investing in future growth, with 1 in 4 business owners planning to access funds to achieve their future business goals over the next 12 months.

Beau Bertoli, Co-Founder and Chief Revenue Officer at Prospa said:

“It’s incredible to see the grit of small business owners, who are proactively taking action to ensure their business is thriving within the current environment. The insights from this research clearly show that their determination has been effective in keeping businesses healthy and profitable.

“There’s also no doubt that access to fast, flexible funding is playing a key role. We’ve observed how our products and solutions are allowing small business owners to smooth out irregularities in their cash flow, or fund growth opportunities.”

Matt Fraser, Owner and Founder of Northern Sports & Remedial Myotherapy in Melbourne, has increased his client base by 30% in 12 months after using a Prospa Line of Credit to fund advertising.

“It’s brought customers from not just the local area but surrounding suburbs and the Melbourne CBD too. Without the Line of Credit, this wouldn’t have happened,” Matt said.

“I was determined to steer clear of banks and credit cards as there’s a lot more interest with credit cards and the repayments are not flexible like with a line of credit. The application process was seamless and straightforward, and within a day I had funds in my account.”