Economic insights for the small businesses sector
The SME Performance Indicator is an aggregation of gross value added (GVA) for the small business sector (1-19 employees).
Analysis of this sector, including breakdowns of key industries, provides insight into our economic future.
SME Performance Score
While SME activity increased 0.6% across the March quarter and 4.1% over the year, the data suggests growth was stronger earlier in the quarter before easing in March as businesses contended with softer consumer spending, higher borrowing costs and increases across wages, insurance, utilities and supply chain-related expenses.
Employment patterns for SMEs
Employment growth remained positive overall, but rising wage costs and ongoing labour challenges continued to place pressure on margins.
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The most recent MYOB SME Performance Indicator shows a strong quarterly performance.
Previous SME Performance Indicator reports
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