Fuel cost top gripe for new firms: MYOB

New businesses are less confident of enjoying rising or steady revenue in the year ahead.

More than one in three new businesses see fuel costs as the biggest impediment to trying to grow their firms.

The latest business monitor from software provider MYOB found this was ahead of cash flow and attracting new customers as the pressure points for start-up companies.
The survey, conducted last month, was released the day after the Abbott government imposed a tariff on oil companies in an attempt to bypass Senate opposition to the reintroduction of fuel excise indexation.
The MYOB report on Wednesday also found that while start-up businesses have enjoyed steady or rising revenue in the past year, they were less confident about the next 12 months.
Almost two-thirds of new firms reported rising or steady revenue in the 12 months to August but only just over half saw this continuing into 2015.
MYOB boss Tim Reed says it was discouraging to see a "grey cloud" hovering over this usually dynamic and eager group of businesspeople.
"We can only hope that we see their confidence bounce back," Mr Reed said.
He said it is critical for the government and industry to inject practical, strategic policy to help lift this aspiring group in their quest to foster innovation and "keep the flame of entrepreneurialism burning".