Small business, big pressure: why the backbones of the NZ and Australian economies need more support

Small business, big pressure: why the backbones of the NZ and Australian economies need more support

Bevan Goldswain/Getty ImagesSmall and medium-sized enterprises (SMEs) are the backbone of the Australian and New Zealand economies, employing 42% of Australia’s workforce and 31% of New Zealand’s workers. But rising costs, weak demand, digital disruption, tariff-driven trade tensions and inflation are pushing many small businesses to the brink of failure. A recent survey by Australia’s CommBank shows nearly eight in ten Australian SMEs have grap…