INTHEBLACK July 2025 - Magazine - Page 40
P O D C AS T
CPA Australia’s
APAC small
business survey
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“Younger business owners are significantly more likely to be
creating new jobs, investing in and successfully adopting technology,
innovating and expanding into new markets. So, there’s a real reason
why we’re talking about getting young people into business.”
GAVAN ORD, CPA AUSTRALIA
From cash flow pressures and access to finance,
to workforce fatigue, productivity and talent
retention, today’s small business environment
is demanding.
Drawing on the findings from CPA Australia’s
Asia-Pacific Small Business Survey 2024–25,
the experts discuss the performance, priorities
and pain points of small businesses in the
Asia-Pacific.
RISING COSTS ARE A KEY CONCERN
“Increasing costs continue to dominate small
business concerns in Australia and across much
of the region. In 2024, 48 per cent of Australian
small businesses said rising costs were a major
barrier for their business, which is higher than
the Asia-Pacific average of 38 per cent. The cost
of most concern to Australian small businesses
was insurance. Utility costs and taxes were also
significant concerns.”
TRAITS OF HIGH-GROWTH BUSINESSES
“We’ve been running this survey for 16 years
and the data from 50,000 small businesses
over that time tells us a lot about what makes —
and doesn’t make — a successful small business.
High-growth businesses have a strong focus
on technology. E-commerce is important
to their business and they are active users
of social media, using it to not only promote
40 INTHEBLACK July 2025
their business, but to sell online, engage
with customers and analyse customer
behaviours.
“They are also significantly more innovative
and almost all seek advice from professionals,
including accountants, IT and business
consultants. They invest in technology
and their people with a clear focus
on customers and improving their
management skills. They are significantly
more likely to pursue overseas sales
and new market opportunities.”
CORRELATION BETWEEN AGE
AND BUSINESS GROWTH
“Four per cent of high-growth businesses
are owned by someone aged 60 or over.
Why is this important? Well, small businesses
owned and operated by someone under
40 are significantly more likely to report
business growth. Those owned by someone
60 and over are just as likely to say they
are shrinking [33 per cent] as growing
[34 per cent].
“Younger business owners are significantly
more likely to be creating new jobs, investing
in and successfully adopting technology,
innovating and expanding into new markets.
So, there’s a real reason why we’re talking
about getting young people into business.”
LISTEN
to the full
podcast episode