Australian small and mid-sized enterprises (SMEs) are known for their resilience, and the latest MYOB Bi-Annual Business Monitor finds this extends to emotional health, with respondents rating their mental wellbeing at 6.8 out of 10, marking ongoing improvement from 6.7 in January 2023 and 6.5 in January 2022.

The survey of 1087 SME owners and operators finds more than half of respondents (52%) agree running their own business has positively impacted their mental health, primarily through increased flexibility and work-life balance—a major advantage for many entrepreneurs.

However, mental health challenges remain a concern for a considerable proportion of business owners. Stress is the most frequently reported business-related mental health challenge, with 43% of respondents indicating that running a business caused them stress over the last 12 months. Anxiety was reported as a concern by 35% of respondents during the same period.

The top business challenges impacting mental wellbeing remain familiar to many small business owners. Cashflow was identified as the leading cause of mental health struggles, with 41% citing it as a key issue. Other factors included attracting and retaining customers (10%) and not having enough family time (10%).

“The findings of this edition of the MYOB Bi-Annual Business Monitor survey are testament to the fortitude of Australia’s SME community, while also serving as a critical reminder of the challenges many business owners face,” said Sally Elson, Chief People Officer for MYOB.

“While it’s encouraging to see many owners embracing the flexibility and balance being their own boss can offer, stress, anxiety and financial pressures clearly weigh on them. Australian SMEs are a significant part of our economic ecosystem, and it’s vital they have access to resources and initiatives to safeguard both their businesses and their wellbeing.”

The MYOB Bi-Annual Business Monitor has tracked SME wellbeing since 2019, offering valuable insights into the evolving mental health landscape of Australia’s small business community. With small and mid-sized businesses collectively contributing more than half of the national GDP, their wellbeing is crucial to broader economic and societal health.

As a leading not-for-profit at the forefront of mental wellbeing innovation, Smiling Mind supports Australians to build mental fitness through evidence-based tools and programs.

Smiling Mind CEO Sarah La Roche said that “Just like physical fitness, mental fitness is something we can build over time — and is especially essential for business owners coping with stress and uncertainty along with the daily pressures of life.

“At Smiling Mind, we understand these struggles and offer free, accessible tools to help build the mental fitness skills needed to navigate these pressures, anytime, anywhere. Because thriving in business means prioritising both your business’ success alongside your mental wellbeing.”

For more information about Smiling Mind, please visit: https://www.smilingmind.com.au/

Australia has a rich history of tech innovation, from Google Maps to groundbreaking advancements in health and sustainability. Today, AI is reshaping industries globally, and Australian startups are at the forefront of this transformation.

Google has announced the return of the Google for Startups Accelerator: AI First! Building on the success of their inaugural 2024 cohort, they are expanding the cohort size to support even more Australian startups in growing with the help of AI. This 10-week, equity-free accelerator, part of the Digital Future Initiative, is designed specifically for Australian Seed and Series A stage startups building AI and ML solutions.

Equity-free accelerator program inclusions?

This program connects you with Google’s world-class AI experts, products, and global networks to accelerate your growth. Selected startups will benefit from:

• Expert Mentorship: Hands-on guidance from Google AI specialists.
• Access to cutting-edge AI tools, infrastructure, and cloud credits for eligible startups.
• Strong Founders’ Network: Collaborate with a select cohort of Australia’s leading AI startups.
• Practical Workshops: Enhance your skills in product development, marketing, sales, and leadership.

Want to join the equity-free accelerator?

Applications are open now until June 30th, 2025. If you’re an Aussie startup building the future with AI, this is your opportunity to scale with Google’s help. Submit your application here.

New research reveals that “chucking a sickie” is costing Australian businesses an estimated $7.3 billion annually in lost productivity, with 24.6 million days taken off work each year for reasons unrelated to illness.

A national survey commissioned by iSelect found that 70.8% of Australians admit to taking at least one sick day without being genuinely unwell in the past year. This trend comes with major implications for business continuity, workforce engagement, and operational costs. Even when mental health days are excluded, 68% still report taking non-health-related leave.

You can view the full study here: www.iselect.com.au/media-centre/survey-reveals-the-reasons-aussies-fake-sick-days

Top 10 reasons Aussies are chucking a sickie by age:

Alarmingly, younger employees were the most likely to take unsanctioned time off, with 84.5% of 25–34 year olds and 82.9% of 18–24 year olds reporting taking at least one non-sick day in the past year. This trend may reflect a generational shift in attitudes toward work-life balance, with younger employees prioritising personal wellbeing over strict adherence to traditional workplace norms.

When it comes to family and childcare, women are more likely to take on this responsibility in place of work (20.1% of women vs. 16.3% of men). This reflects ongoing gender norms and societal expectations, often leading women to reduce or leave their employment, highlighting the need for more supportive workplace policies such as flexible work arrangements and equitable parental leave.

Andres Gutierrez, General Manager – Health at iSelect, said: “Our research found that it is very common for Australians to pull a sickie at least once a year despite not being physically ill. A lack of sleep, wanting to relax and recharge, and mental health are the top three reasons, highlighting how some Australians might choose to prioritise self-care. If you’re finding it tough to get a good night’s sleep or you’re dealing with mental health challenges, it’s important to reach out for support. Some private health insurance policies can help cover things like mental health services and sleep studies.”

In a successful business, ‘sustainability’ shouldn’t be just a trendy buzzword – it should be an initiative that is placed at the very core of everything the brand believes and does, which has always been the case at Nature’s Sunshine. As a complementary health brand, the company’s entire purpose relies on nature which is what consumers have come to know and appreciate. Over time, the company has evolved with many societal changes but at the forefront one thing has always emained the same, and that is their commitment to sustainability.

From farming to product formulations

The herbs that are used in Nature’s Sunshine’s formulations are only as powerful as the soil they are grown in, which is why sustainable farming and ethical harvesting have been a nonnegotiable. One example of this is their newest Power Beets formula, made from nitric-oxide rich beets that are naturally known to help support energy and endurance. The beetroots themselves are sourced from high Tibetan plateaus, grown at 10,000 feet where the cool 4°C average temperatures and nutrient-rich sky-high soil provide ideal growing conditions. In addition to this, Nature’s Sunshine partners with generational farmers who have perfected the craft of beet cultivation, ensuring a product that is not only eNective but ethically and sustainability grown.

Embedding sustainability in a brand’s DNA

For Nature’s Sunshine, sustainability doesn’t end at the farm. It’s embedded in everything from the 100% manufacturing facility to the use of 100% recycled plastic bottles. This reiterates the fact that sustainability is about building a business that lasts. In an age of noise, discount codes and digital overload, a brand with real substance cuts through. If you can’t earn a sale without a discount, a paid ad, or a hack, you don’t have a brand—you have a promotion. Building a brand today means standing for something and living it every day. For Nature’s Sunshine, this means that nature isn’t a commodity, it’s a ommunity everyone is part of and responsible for in one way or another.

Implementing positive change

Although sustainability has always been at the forefront, Nature’s Sunshine has always looked towards ways they can do better. In support of their evolving environmental eNorts, their international manufacturing facility is now 100% solar-powered, reducing their CO2 emissions by 42%. The company has also reduced the use of virgin plastics by over 225,000kg a year world-wide – converting to bottles made from 100% recycled plastic and introducing more flexible pouches that use less plastic. The packaging of the new Chlorophyll Stick Packs alone translates to the use of 90% less energy and water produce, 98% less post-consumer weight, 90% fewer pallets used in transport and 89% less shipping weight. The future of business and branding is about reflecting, pivoting, making change where necessary and always going back to the brand’s ‘why’. When we take care of nature, it takes care of us—and that’s a business model worth building.

Contributed by Stanford Webster, General Manager – Nature’s Sunshine Australia

When I launched my first business in my twenties, I thought success meant sales, scale, and building a brand with cut-through. And to some extent, it did. But it took me a little longer to realise that real success — the kind that sustains you beyond your startup — also means financial independence. Not just revenue. Not just growth. But wealth from a Personal Wealth Strategy.

We don’t talk about this enough. Founders are often so focused on cash flow, growth targets and reinvesting in the business that they neglect their own financial future. And for women in particular, that can be a costly blind spot — especially in a climate like this.

Right now, the cost of living is at record highs. Inflation is steadily eroding savings. And Australian women are still retiring with, on average, 25% less superannuation than men. Financial literacy is no longer a nice-to-have — it’s a survival skill. And founders, of all people, should be thinking about how they’re building wealth personally — not just professionally.

When I started my first business, I was a young solo mum navigating life without a blueprint — financially or otherwise. I didn’t grow up talking about money. I didn’t have a financial adviser on speed dial. But I taught myself. I bought property. I built multiple income streams. I started investing. And I did it all while bootstrapping.

What I learned is this: you don’t need to be a finance expert to build wealth. But you do need to get intentional about it. Because if your personal finances aren’t growing with your business, you’re more exposed than you think.

Here are three things I’ve learned that I now believe every founder should factor into their personal wealth strategy:

1. Personal Wealth Strategy is the long game — and revenue isn’t enough

There’s a big difference between making money and building wealth. Your business might generate strong revenue, but if you’re not pulling money out, protecting it, and putting it to work, you’re still operating from a place of risk. I learned to treat my personal finances like a second business — with goals, structure, and long-term thinking. That shift was a turning point.

2. Diversification applies to life, not just portfolios

As founders, we know the risk of relying on a single product or market. The same logic applies to your personal income. One revenue stream — even a thriving one — is still one point of failure. I started looking for ways to build parallel income early: investing in markets, creating digital assets, and adding secondary product lines. That strategy gave me freedom, not just extra income.

3. Financial literacy makes you a better founder

The more confident I became with money — understanding debt, interest, returns, tax — the sharper my decision-making got. It wasn’t about becoming an expert. It was about building fluency. Knowing my numbers gave me leverage — in negotiations, in team conversations, and in moments of pressure. It made me more resilient and more resourceful.

We often hear about “closing the gap” in funding, leadership, and opportunity. But there’s another gap we rarely acknowledge: the financial confidence gap. And it starts with founders — especially women — being willing to prioritise their own wealth as part of their growth story.

You don’t need to have it all figured out. But you do need to start a Personal Wealth Strategy . Because the goal isn’t just to build a successful business — it’s to build a life that gives you freedom, security, and options long after the business has scaled.

Contributed by Rebecca Klodinsky the co-founded of The Prestwick Place

Australia’s small businesses are feeling the squeeze as the end of financial year looms, with many reporting cash flow stress and personal strain, according to the latest SME Sentiment Report commissioned from Prospa, in partnership with YouGov.

The economic climate also has a personal impact, with more than three in four (77%) say rising costs and a challenging economic environment has impacted them personally, most commonly forcing them to reduce their own income and experiencing increased stress/ burnout (43% respectively).

Cash reserves are tight, and funding demand is rising

The report shows that 13% of Small to medium enterprises (SMEs) have no cash reserves at all, and many are looking for external funding to bridge the gap. Nearly one in three (30%) expect to access external funding in the next 12 months, with an average funding need of $24,701.

Additionally, two-thirds (66%) of SMEs report experiencing cash flow stress in the past year, and 39% of that group shared that it even impacted their sleep. Despite this pressure, most small business owners remain optimistic about their operations, with 74% rating their business health as ‘good’. However, one in four (25%) rate it as poor in the current environment.

However, rising costs continue to be a major concern. Most SMEs (83%) are taking action by cutting non-essential expenses (46%) and raising prices (37%).

“Small businesses are showing incredible resilience and adaptability,” said Beau Bertoli, Co-Founder and Chief Revenue Officer at Prospa. “It’s been a tough time for many, marked by sleepless nights and dipping into personal savings – but I’m continually impressed by how business owners are embracing technology and finding smarter ways to operate.”

The technology gap for SMEs is widening even with the integration of AI

Digital tools are playing an increasingly significant role in assisting SMEs with their challenges. Six in ten (60%) say AI is critical to their business, with the top uses including reducing admin time (33%), and planning for growth (23%). Professional services firms are leading the way, with 82% citing AI as a key enabler of their operations.

However, among owners planning to invest in their businesses to combat rising costs (83% of those surveyed), only 21% intend to invest in technology. 

“Technology is no longer a luxury – it’s a necessity,” Bertoli added. “AI is helping small businesses do more with less, freeing up time and resources to focus on growth. But adoption, particularly if you are competing with larger or global businesses, needs to be higher.”

Regional businesses believe there are misconceptions about their credibility

The report highlights the experience of operating a business regionally. Regional small businesses feel overlooked, with 56% believing they’d perform better in metro areas and 71% saying they believe that city-based clients or stakeholders have misconceptions about regional businesses, particularly that they are less professional or credible. Yet, 52% of metro SMEs would consider moving regionally if it meant higher revenue, revealing a surprising openness to regional growth.

“Regional businesses are just as ambitious and talented as their metro counterparts,” said Bertoli. “It’s time we challenge outdated perceptions and unlock the full potential of Australia’s regional economy.”

The Council of Small Business Organisations Australia has reminded the government that Australia’s small businesses will be the ones footing the bill for higher wage costs.

COSBOA CEO Luke Achterstraat said small businesses were the largest private sector employer in the country and much more consideration should be given to their operating environment.

“Small businesses are facing a cost crisis across energy, rent, insurance and input costs. Today’s decision of a 3.5% increase, which is above the current rate of inflation, will have ramifications for our small business engine room, many of whom are struggling to make a profit on already razor-thin margins.

“For every dollar increase in the award rate, employers also face higher levels of workers’ compensation, payroll tax and of course, another legislated increase in the superannuation guarantee from 1 July.”

There is a limit, said Mr Achterstraat, to how much small businesses could pass on these costs, meaning owners likely bear the brunt.

“This decision will affect more than 100 different industry awards and a multitude of different role classifications. Many owners will need to personally absorb these higher costs, unable to pass on any further price rises to consumers.”

COSBOA maintains the government must recognise who is footing the bill and emphasise the focus should be on sustainable wage growth linked to productivity. 

“Ultimately, someone needs to pay here, and overwhelmingly that will be small businesses.

“The irony here is that our industrial relations system continues to be a drag on productivity, and that is bad for workers and businesses.”

Mr Achterstraat said the new Minister for Workplace Relations must make productivity the primary focus.

“We have repeatedly warned that higher wages without higher productivity is a disaster waiting to happen.

“To ensure that our children don’t endure a lower standard of living than us, we need to boost productivity – our workplace settings have a direct impact on this outcome.

“We need to see less complexity, more certainty and a user-friendly approach that encourages small businesses to hire, grow and reward staff,” insisted Achterstraat.

For more on giving small businesses a Fair Go, visit: cosboa.org.au

Uber has announced the return of its Business Booster program – now expanded to reach more people who drive or deliver using the Uber and Uber Eats apps across Australia and New Zealand. The program provides participants with the skills and resources to start or grow their own businesses. Over six months, all eligible earners will have free access to expert-led online masterclasses covering marketing, finance, and strategic planning – designed to help develop and scale their business or entrepreneurial ideas.

Since launching, Uber has helped 200 earners across Australia and New Zealand bring their business ideas to life. This year, Uber has partnered with Rare Birds – a provider of world-class mentoring programs for small businesses and corporates – to relaunch the Business Booster program in a more inclusive and scalable format. The updated program reflects the diverse goals of Uber’s driver partners and delivery people and now includes a chance to submit a pitch video to win a share of AUD $50,000 in business grants, supporting innovation, growth, and the next stage of their ventures.

“This year, we’re bringing the program back in a more scalable format because we know many driver partners and delivery people have great business ideas, and we want to support them not just while they’re earning with Uber, but also in their broader ambitions,” said Emma Foley, General Manager of Uber Australia and New Zealand. “By opening the program to everyone, they’ll have access to practical tools – from marketing and finance to building an action plan – to help bring their business ideas to life. Over the past two years, we’ve seen real-world ventures emerge and thrive, and we’re excited to help more driver partners and delivery people kickstart their entrepreneurial journeys this year.”

Last year, New Zealand based delivery person Suraya O’Brien won the top grant through the Business Booster program, recognised for her innovative take on period underwear. Her story reflects the entrepreneurial mindset many local earners bring to their work: practical, determined, and focused on solving real problems.

“The education component felt like a mini MBA – exactly what I needed as someone with limited business experience. Within five months of winning the top prize, I had successfully launched Flow Riders, which was a huge milestone. To anyone considering this opportunity: take the leap. Whether or not you have a business idea yet, this could be the sign you’ve been waiting for. Believe in the generosity of others, trust in your potential, and give yourself permission to dream big. This program is truly life-changing.”

The program is now available until November 2025 for all Uber driver partners and delivery people who use the Uber platform. Information on how to participate can be found here.