A staggering one in three SME operators are fearful of falling into insolvency in the near future, amid suggestions that many small businesses are failing to support each other.
Launching its annual Shop Small campaign promoting the value of supporting small business, American Express released new researchthat suggested one-third of business operators fear going to the wall within the next three to five years.
The research incorporated 20-minute surveys with 1,019 Australian adult consumers and 864 small businesses nationwide and was published in a report titled The economy of shopping small: Back your backyard.
It found that shoppers are splashing their cash less often with small businesses than they did just two years ago.
Just 70 per cent…
Read the full article at: https://www.mybusiness.com.au/sales/5125-1-in-3-businesses-fear-impending-insolvency