INTHEBLACK April/May 2024 - Magazine - Page 4
CPA AUSTRALIA
Small businesses are key
to our economic prosperity
Welcome to the April/May 2024 issue of INTHEBLACK.
Small businesses play a vital role in our economy – they bolster
communities, generate employment and foster connections among
people. They serve as platforms for entrepreneurs, catalysts for
change and engines of innovation within their respective markets.
This culture of innovation attracts talent that introduces fresh
perspectives and enhances traditional business practices.
To remain competitive in today’s globalised landscape, small
businesses must continue to adapt and innovate.
The correlation between technological investment and business
success has long been established. CPA Australia’s recently released
2023–24 Asia-Pacific Small Business Survey offers valuable insights
into the factors that drive business performance and the obstacles
they encounter.
Surveying thousands of businesses across 11 diverse markets,
the findings underscore the significance of innovation and
technology adoption in achieving success. Particularly noteworthy
is the propensity of younger business owners to embrace
innovation, demonstrating lower risk aversion and greater
likelihood of prosperity.
Conversely, a lack of innovation hampers economic growth
and productivity.
It is imperative that we support small businesses in integrating
new technologies into their operations to unlock growth opportunities.
Encouraging budding entrepreneurs to trust their instincts fosters
a conducive environment for economic prosperity.
I urge you to delve into the report and explore avenues through
which small businesses can enhance productivity and efficiency
to bolster profitability.
D A L E P I N T O F C PA
JOHN CURTIN DISTINGUISHED PROFESSOR
C PA A u s t r a l i a P R E S I D E N T A N D C H A I R
CPA Australia awards
IntelligenceBank
Brandie Awards
2023 WINNER
BEST BRANDHUB –
PROFESSIONAL SERVICES
4 INTHEBLACK April/May 2024
Australasian
Reporting
Awards
2023 WINNER
GOLD AWARD
2022 WINNER
SILVER AWARD
Transform Awards
ANZ
2022 WINNER
INTEGRATED
REPORTING
AWARD
2021 WINNER
SILVER AWARD
2022 WINNER
BEST EMPLOYER
BRAND
