Aussie small businesses show resilience despite economic pressures

Australian small businesses demonstrated strong resilience in the first quarter of the year, with sales increasing 7.2 per cent from January to March according to new data from Xero, marking the strongest result in over two years. Employee hiring also increased during this period, showing confidence and momentum in the sector despite challenging economic conditions including interest rate hikes and Middle East-related disruptions. Small businesses contribute approximately one-third of Australia's GDP, making their performance significant for the broader economy.See omnystudio.com/listener for privacy information.