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2 clusters · 4 sources · 10 days · First seen · Last updated
Australian SME productivity and cost challenges
Overview
Australian small and medium enterprises (SMEs) are facing pressure to improve productivity to counter rising operating costs and increased customer sensitivity to price increases. Data from the Australian Bureau of Statistics indicates that labour productivity remained flat in the June quarter and saw a 0.2 per cent decline over the year.
To manage these financial pressures, experts suggest that businesses should invest in technology, equipment, and skills—such as using AI for administrative tasks or improved machinery—to increase output per hour rather than extending working hours. In sectors like construction and transport, fixed contract prices are making it difficult for companies to recover increased expenses.
Entities
James Beeson · Earlypay · Nexus Advisory · Australian Bureau of Statistics · Office for Budget Responsibility
Timeline
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[BUSINESS] 2 sourcesAustralian SMEs urged to boost productivity amid rising costs
Australian SMEs are urged to boost productivity through technology and better processes as rising costs and customer price sensitivity limit their ability to increase prices.
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[BUSINESS] 2 sourcesUK SMEs face productivity challenges amid rising costs
UK SMEs face declining confidence and stagnant productivity as rising costs and administrative inefficiencies impact growth and margins.
Sources
elitebusinessmagazine.co.uk · insidesmallbusiness.com.au · livenews.co.nz · radiopasionaria.com