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Australia’s SME (small and medium-sized enterprise) sector is experiencing its strongest revenue performance since 2011, according to research from MYOB.
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SME revenue hits highest level in 4 years
30 March 2015
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The software provider’s March 2015 Business Monitor report found 23 per cent of SME owners increased their revenue in the past 12 months, the highest level of revenue growth recorded since September 2011.
In addition, 30 per cent of SMEs surveyed reported a decrease in revenue, the lowest level since March 2011, while a further 43 per cent reported stable revenue in the past 12 months.
By sector, SMEs in finance and insurance had the most significant increase in revenue growth, with 41 per cent reporting a rise, up from 20 per cent in August 2014.
Overall, more SMEs said the federal government could be doing more to help them succeed, with 33 per cent dissatisfied with the level of support they are receiving compared to 27 per cent saying they were satisfied.
This sentiment was mirrored in attitudes towards the states, with 34 per cent of respondents being disappointed in their state government’s performance in the past six months, compared to 29 per cent of SMEs who felt that they had been performing well.
“The message from Australia’s small and medium businesses is clear – more support from the federal and state governments is required to allow them to reach their full potential and further develop the key role they play in our country’s economy,” said MYOB chief executive Tim Reed.
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