‘Outlook is a bit grim’: Small businesses feeling the pinch of rising interest rates

Australian small business and family enterprise Ombudsman, Bruce Billson, has detailed the “grim” outlook for small businesses, as the Reserve Bank weigh up another interest rate rise.

Mr Billson admits its a “fairly challenging time” for small businesses with insolvencies in Victoria up 39 per cent in the past financial year.

“The immediate outlook is a bit grim,” Mr Billson told Tom Elliott, filling in for Neil Mitchell.

Press PLAY to hear him detail the “grim” outlook for small businesses