A NEW survey reveals that Canberra’s small business sector is optimistic about future growth but rising costs and local skill shortages could create barriers. 

The survey has been conducted in partnership with the Canberra Business Chamber and Deloitte, a collaboration of professionals across a network of offices, to gain a sense of issues and priorities faced by local small and medium businesses.

It found that 90 per cent of small and medium enterprises (SME) want to grow their business, 81 per cent are more optimistic about growth than they were in 2015 and 70 per cent say economic conditions is limiting their growth to some extent.

In terms of barriers to small and medium businesses, 63 per cent say that local skill shortages are slowing growth opportunities, 58% say there are restrictions limiting their capacity to take on new people and 53 per cent have seen their operating costs increase.

Canberra Business Chamber CEO Robyn Hendry says: “The responses provided by business reflect what we have been seeing over the past 12 months, which is an optimistic outlook.

“Conditions are currently strong, but we need to address issues that have the potential to hinder future growth and protect against any shocks or challenges that may arise.

“In particular, ensuring adequate numbers of skilled workers is something we have been working on with local businesses, the ACT and Federal Government and training and education providers.”