Inside Small Business
15 March, 2023
New research from OnDeck Australia has revealed that 66 per cent of small businesses throughout Australia are being adversely affected by rising electricity prices, which the Federal Treasury noted as a 30 per cent increase this year.
In fact, 25 per cent of small businesses shared that the increase in their electricity bills have a greater impact on profitability than rising fuel costs and the increased price of trading stock.
Cameron Poolman, CEO of OnDeck Australia, said, “Australia’s small business community is facing rising costs across a number of fronts. But there are steps businesses can take to mitigate the impact of rapidly rising electricity prices – a cost that can be a significant overhead.”
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