Almost 6 in 10 SMEs are planning to invest to grow in the next 12 months with people, new products/services and new technologies/systems, topping the list. The overwhelming majority use an accountant or bookkeeper for business advice.

Investment is fundamental to business growth and success. It enables businesses to expand and enhance their brand, promote workforce development and ensure their long-term viability. When faced with downturns however some businesses instinctively focus on cutting costs to maintain profitability. But even in a challenging economic environment there are opportunities to invest to emerge even stronger. In this report, NAB surveyed around 700 Australian SMEs around their plans to grow their business in the next 12 months, in what ways those planning to grow their business were looking to invest and who they used for business advice. It was particularly encouraging that a large share of SMEs overall said they had plans to invest to grow.

For more information, please see the full report SME – Investing to Grow & Business Advice (Q2 2024)