Research released by digital agency Bullseye has shown that many Australian small and medium businesses are prepared to take more risks to save their business in the dowturn, with almost half expecting to be negatively impacted by the financial crisis.
The survey polled the outlook of small businesses across Australia, the UK and the US, finding that Australian small businesses are more optimistic than their overseas counterparts. However, close to half believe that their profits will fall over the next few months.
Bullseye CEO, Jim McKerlie, believes that small and medium businesses are starting to feel the pinch and are taking greater risks to survive.
“SME owners and managers are facing a period of significant pressure and great uncertainty. These results show SMEs are expecting to be hit hard by the economic downturn through falling revenues, declining profits, financing challenges and possible business closures and many are considering taking greater risks to stay alive.”