As if running a small business wasn’t challenging enough, the last few years have made it even more so. Lockdowns and social isolation are significantly reducing foot traffic. Supply chain issues prevent the delivery of valuable materials, equipment, and deliveries. Employee turnover has increased as a result of the Great Resignation. In this week’s Let’s Talk our experts highlight the top concerns for Australian small business owners in 2022.
Walter Scremin, CEO Ontime Delivery Solutions:
It’s hard to currently go past inflation and rising business costs as major business issues post the Federal election.
These have widespread impact across the country as just about everyone feels the pain. In transport and logistics, fuel costs are creating a domino effect right through supply chains, as fuel has an outsized influence on the costs of deliveries. This adds to business costs, which were already increasing across the pandemic due to labour shortages and the increasing cost of materials.
It’s all coming at a delicate time given many businesses are still in recovery mode yet finding their margins being squeezed. And there is still some uncertainty over what may happen next with the pandemic, not to mention the global economy.
It’s up to business to look at what it can control, such as becoming more efficient, more flexible, and using technology to its full – this doesn’t always happen in the transport and logistics industry. By doing these things business can become stronger and more resilient.
This article is adapted from ‘Let’s Talk: Business experts underline key issues ahead of the 2022 elections’ which was originally published on dynamicbusiness.com pre-election.