Small Business Failures On The Rise

The Australian Bureau of Statistics (ABS) says 60% of small business fail in the first 3 years and NAB’s recent quarterly survey of business shows conditions and confidence have fallen and are lowest among the retail sector. Additionally, a recent survey has found that 1 in 3 small business operators fear they’ll become insolvent in the next 3-5 years (specifically, 43% in fashion and 53% food retailers).

Roger is interviewed for the second time, by ABC reporter Rachel Pupazzoni on his take on these latest startling figures and what retailers need to do to prevent themselves becoming another statistic.