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Small to medium enterprise (SME) owners expect challenges for 2025 but are ready to adapt.
According to NAB’s latest research, three in four SMEs expect costs to rise over the year. But, in response, businesses plan to streamline operations, renegotiate with suppliers and manage inventory more effectively.
One way SMEs intend to deal with rising costs is to implement new technology. Around 41% expect to increase their adoption of technology to enhance their business.
Another strategy is to hire more staff. Around 29% of SMEs are planning to increase their employee count this year, which should also help improve their efficiency in the face of rising costs.
#accountant #tax #business
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