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1 in 3 Aussie small business owners fear this

Are you one of them?

If you’re a travel agent or company, especially if you own your small business, you could be forgiven for feeling like you’re on a never-ending rollercoaster ride. One minute you’re told all is rosy and the outlook great, the next you’re forewarned of the slow death of the industry. 



So how confident are you that you’ll still be doing what you love in five years time, and what are measure do you take to get by, if indeed you’re only getting by? 


According to a recent report commissioned by American Express, one in three Australian small business owners - including those in the travel industry - fear becoming insolvent in the next three to five years. 


With consumer spend at small businesses in decline, The Economy of Shopping Small: Back Your Backyardreport also showed that smaller companies, including those in travel, are in need of greater consumer and government support. 


Backing this claim, research revealed that only 10% of small travel businesses had access to government services.


Meanwhile, the national survey found families to be the “unpaid backers” in small travel businesses, with as many as four in ten (40%) admitting to not paying family members to cover staff shortages.


This month, AMEX is running its Shop Small Campaign to raise awareness and encourage consumers to support small business.


“The AMEX Shop Small Campaign is a great initiative; it brings to light the fact that we’re supporting more than just a business, but a family and wider community as well,” Adventures Abroad owner Tom Allwright told Traveltalk.


“Running a small business is sometimes very challenging but it's also a great opportunity to offer innovation to our world.”


Are you a small business owner? Share your thoughts with us...


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Written by: Mark Harada
Published: 27 November 2018

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