A group of organisations in Australia has issued a joint statement urging small enterprises to consult their advisers as operating costs climb and major regulatory changes approach.
The statement was issued by the Affiliation for Business Resilience and Turnaround (ABRT); the Commercial & Asset Finance Brokers Association of Australia (CAFBA); the Council of Small Business Organisations Australia; CPA Australia; the Institute of Certified Bookkeepers (ICB); and the Mortgage & Finance Association of Australia (MFAA).
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
They noted that the nation’s more than 2.6 million small businesses are grappling with rising input costs, fuel volatility and high interest rates.
Given the “complex environment”, the coalition urged small businesses and sole traders to work closely with accountants, bookkeepers, and finance and mortgage brokers, describing them as central to managing money, securing finance and planning ahead.
The group said involving advisers sooner can help companies stabilise cash flow, deal with higher input costs and interest rates, and identify funding options before problems become urgent.
Early advice is also being promoted as a way to avoid rushed, reactive decision-making and to give owners more certainty and more time to concentrate on day‑to‑day operations.
According to the alliance, practical assistance from advisers can extend to handling rising fuel and materials costs, preparing for Payday Super requirements, and adapting to changes in payments and surcharging.
Support can also include shoring up cash flow and financing, cutting red tape and easing administrative workloads, and improving the quality of business decisions.
Members of the ABRT, the CAFBA, CPA Australia, the ICB and the MFAA, which work directly with small companies, report they are observing the advantages of proactive engagement in their day‑to‑day work with clients.
The alliance intends to continue its joint efforts to offer guidance and hands‑on support to small businesses as conditions and regulations continue to shift.
CPA Australia CEO Chris Freeland said: “Small businesses are operating in an environment where rising costs, cash flow pressures and regulatory change are all hitting at the same time.
“We are strongly encouraging business owners to strengthen their resilience by leaning on trusted advisers who know their business, understand how best to respond and can help them plan ahead.”
