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Rising energy prices have become the leading concern for Australian business leaders, signalling growing strain across major sectors of the economy.
Energy costs have overtaken all other issues, ranking nearly three times higher than concerns over international trade and seven times higher than fears of cyber-attacks, according to the latest report by accounting software firm MYOB, which surveyed 526 mid-sized companies.
Industries most affected include manufacturing, transport and wholesale trade, where rising electricity bills are eating into profit margins and reducing competitiveness against imports.
Businesses in Victoria and New South Wales reported the highest stress over energy costs, while firms in Western Australia showed slightly less concern.
The findings highlight “the most significant challenge facing Australia’s mid-sized businesses today”, says MYOB CEO Paul Robson.
Many firms have responded by investing in automation and energy-efficient technology to offset rising costs, but for others, the pressure remains severe.
The report underscores how energy costs have become a central driver of the broader “cost-of-doing-business” crisis. For leaders, it’s a reminder that tackling energy efficiency, exploring renewable options, strengthening energy resilience and reviewing procurement strategies will be essential to maintaining margins in a tightening market.
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