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Debt woes of SMEs overstated

SMEs more concerned about economy than debt
Concern about debt is at the bottom of the list of issues worrying Australia’s two million small and medium businesses (SMEs), according to new research from DBM Consultants.
The company’s Business Financial Services Monitor (BFSM) found that of the 18,000 businesses surveyed, concern about debt ranks fairly low on the list, coming in behind the economy (47 percent), managing costs/overheads, maintaining or growing revenue (38 percent), competition (35 percent), marketing (28 percent), government regulations (25 percent) and finding suitable staff (19 percent).
DBM managing director, Dhruba Gupta, believes the results suggest that concern about debt among SMEs has been overstated in recent months.
“Some studies and comments in the media have suggested debt has become the number one issue for SMEs. But our survey… does not support this view,” he said.
“Concern about the current economic environment continues to be the most important issue for SMEs despite the fact that fears about the global financial crisis have eased markedly over 2009,” he added.

Concern about debt is at the bottom of the list of issues worrying Australia’s two million small and medium businesses (SMEs), according to new research from DBM Consultants.

The company’s Business Financial Services Monitor (BFSM) found that of the 18,000 businesses surveyed, concern about debt ranks fairly low on the list, coming in behind the economy (47 percent), managing costs/overheads (41 percent), maintaining or growing revenue (38 percent), competition (35 percent), marketing (28 percent), government regulations (25 percent) and finding suitable staff (19 percent).

DBM managing director, Dhruba Gupta, believes the results suggest that concern about debt among SMEs has been overstated in recent months.

“Some studies and comments in the media have suggested debt has become the number one issue for SMEs. But our survey… does not support this view,” he said.

“Concern about the current economic environment continues to be the most important issue for SMEs despite the fact that fears about the global financial crisis have eased markedly over 2009,” he added.

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Jessica Stanic

Jessica Stanic

Jessica has a background in both marketing and journalism and is dedicated to making the website the leading online resource for small to medium businesses with ambitions to grow.

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