A survey conducted by financial software Reckon has found that 66 percent of small businesses have reported either increased (41%) or stable (25%) revenue this year and more than 80 percent of businesses expect to have positive or stable revenue in 2012.
The 2011 Reckon Annual Australia Small Business Survey polled more than 1,200 small business owners on their 2011 experiences as well as their expectations for the coming year.
Reckon’s Business Division CEO Gavin Dixon said 2011 has been challenging for many small operators with 81 percent facing increased costs and almost half seeing increased competition in this period.
“Despite these challenges, as well as concerns about economic conditions and rises in living costs, it is heartening to see that businesses are feeling relatively upbeat about the year ahead with four out of five businesses expecting to increase their revenue or for it to remain stable in 2012,” he said.
The survey results indicated that small businesses were most concerned about economic conditions with one in three nominating this as their primary worry, followed by increased costs of living (21%) and the introduction of the carbon pricing scheme (20%).
Other questions covered business owners’ use of technology, revealing that only 55 percent of businesses surveyed had a website, although 45 percent of business owners appeared to be tech-savvy, using a smartphone or tablet device for work purposes.
The findings also showed that most business owners were after increased profitability (59%) in the next year, closely followed by better work/life balance (58%) and less stress (43%).
Click here to download the report covering the 2011 Reckon Annual Australian Small Business Survey.