Report shows small firms trading well but business groups argue for more support

Hospitality and retail operators voiced concern over cost burdens and lobbied for government help.

A report published by the Department of Finance showed the vast majority of small firms traded well last year, despite an inflationary environment, however some business groups have argued that cost pressures continue to weigh on employers.

The SME Credit Demand Survey showed the hospitality sector had the highest percentage of firms reporting an increase in turnover, while the percentage of small- and medium-sized firms exporting jumped to 22% from 19% in the previous year.