ACCI survey finds nearly half of small businesses considered closing in past 12 months

Almost half of small business operators have considered closing or leaving in the past twelve months, with the percentage even higher outside Australia’s capital cities, according to damning new survey data from the Australian Chamber of Commerce and Industry (ACCI).

In its new ACCI Small Business Survey, released Sunday, the representative group said traders are struggling through a difficult trading environment and what it described as a complex regulatory environment.

Some 45% of survey respondents said shutting up shop was a real consideration, with the percentage rising to 57% in regional and rural Australia.

While the cost pressures facing small businesses — spanning inflation, increased borrowing costs, and uncertain consumer spending — are a major concern, ACCI said traders are worried about red tape.