XERO Cashflow Reports – Australia and New Zealand

XERO Cashflow Reports

Our client Xero recently released both the Australian and New Zealand Cashflow Reports for 2023, revealing that many small business owners in both countries are forgoing their pay cheques, increasing prices, and cutting costs to combat cash flow struggles.

THE BRIEF

Australia

Money Matters: navigating the impact of economic conditions on the cash flow of Australian small and medium-sized businesses.

For this research, Insights Exchange collected responses of over 500 small to medium-size businesses (up to 50 employees) across Australia in January 2023.

Some of the key findings included:

There are significant signs of financial stress for small businesses in Australia with over a quarter (27%) revealing they’ve had to use their personal savings to keep their business afloat
The report has also revealed 45 percent of small businesses admit they are worried about their personal financial future, and nearly half (48%) are concerned about their business’s financial future

THE SOLUTION

New Zealand

Money Matters: navigating the impact of economic conditions on the cash flow of New Zealand small and medium-sized Businesses

For this research, Insights Exchange collected responses of over 500 small to medium-size business managers and owners (up to 50 employees) across New Zealand in May/June 2023.

Some of the key findings included:

46% of business owners and 60% of sole traders aren’t paying themselves in order to keep their business running
More than half of Kiwi small businesses (52%) have increased prices to cover the cash flow challenges, while a similar proportion (48%) have sought to review and remove costs

See the Xero for the full media release and to download a copy of the report.

About Xero
Founded in 2006, Xero now has 3.95 million subscribers and is a leader in cloud accounting across New Zealand, Australia and the United Kingdom. Xero’s online accounting software connects small business owners with their numbers, their bank, and advisors anytime.

Australian small business owners are dipping into their personal savings or increasing their prices to mitigate rising costs, while in New Zealand, nearly half small business owners aren’t paying themselves.

XERO Cashflow Reports – Australia and New Zealand