Small businesses urged to lean on trusted advisers as cost pressures and policy changes converge

A joint statement from the Council of Small Business Organisations Australia (COSBOA), the Affiliation for Business Resilience and Turnaround (ABRT), the Commercial & Asset Finance Brokers Association of Australia (CAFBA), CPA Australia, the Institute of Certified Bookkeepers (ICB) and the Mortgage & Finance Association of Australia (MFAA) is urging small businesses to actively engage their trusted advisers as cost pressures intensify and key regulatory changes approach. 

With more than 2.6 million small businesses operating across Australia, the sector is navigating a complex environment shaped by rising input costs, fuel volatility, high interest rates, and upcoming reforms such as Payday Super and changes to payment surcharging. 

COSBOA said that while these pressures are well understood, the challenge for many small businesses is knowing how to respond, particularly when decisions around pricing, staffing, cashflow and investment are increasingly interconnected. 

“Small businesses are not just dealing with one issue at a time, they are managing multiple pressures simultaneously,” said Skye Cappuccio, CEO of COSBOA. 

“In this environment, the difference between a sound decision and a costly one often comes down to having access to the right advice at the right time and acting on it early.” 

The alliance is encouraging small businesses and sole traders to engage with their accountants, bookkeepers, and finance and mortgage brokers; each playing a critical role in helping businesses manage their finances, access funding and plan ahead. 

Early engagement can help businesses maintain cashflow, manage rising costs and interest rates, including identifying financing options early and avoiding reactive decisions under pressure – giving business owners greater certainty and more time to focus on running their business. 

Practical ways advisers can support right now include: 

• Managing rising fuel and input costs: Advisers can assess margins, identify where cost increases are impacting profitability, and support pricing decisions, including when and how to pass on costs or adjust contracts. 
• Preparing for Payday Super: Bookkeepers and accountants can help businesses transition from quarterly to more frequent super payments, implement payroll system changes, and map cashflow impacts to avoid shortfalls or penalties. 
• Navigating payment and surcharging changes: Advisers can break down merchant fees, model the impact of removing surcharges, and support pricing strategies to protect margins. 
• Strengthening cashflow and financing: Finance and mortgage brokers can help small businesses assess their borrowing capacity, restructure existing facilities, refinance high-cost debt, and access a broader range of lenders and funding options, particularly where traditional lending pathways may be constrained.
• Reducing red tape and administrative burden: Advisers can streamline reporting, automate processes and ensure compliance requirements are met efficiently, helping to free up valuable time. 
• Improving decision-making: By providing real-time financial visibility, advisers can help business owners avoid reactive decisions, such as under-pricing, over-cutting staff, or delaying necessary changes. 

Real-world examples of adviser support include: 

• A trades business identifying that rising fuel and materials costs had eroded margins by more than 10%, leading to the introduction of a fuel adjustment clause in customer quotes. 
• A hospitality business preparing for Payday Super to adjust cashflow planning to account for super being paid at the same time as wages. 
• A small business reviewing high-interest lending and refinancing to reduce repayments, improving short-term cashflow during a period of rising costs. 
• A retailer reviewing merchant fees to identify the most cost-effective payment options and adjusting pricing to maintain profitability as surcharging rules change. 

ABRT, CAFBA, CPA Australia, ICB and MFAA members work directly with small businesses every day and are seeing first-hand the benefits of early engagement. 

“Many small businesses are time poor and focused on day-to-day operations,” said Ms Cappuccio. 

“Engaging with a trusted adviser not only helps ensure compliance, it can also save time, reduce stress and support better business decisions.” 

COSBOA said this approach aligns with its broader purpose of supporting small business growth by connecting operators with the networks, expertise and information they need to succeed. 

“By leaning into their trusted advisers and asking the right questions now – particularly around costs, cashflow, lending and upcoming changes – business owners can better understand their position, make more informed decisions and build resilience for the months ahead,” said Ms Cappuccio. 

The alliance will continue working together to provide guidance and practical support to small businesses as conditions evolve. 

Eddie Griffith, Chair, Affiliation for Business Resilience and Turnaround (ABRT)  

“For small business owners, pressure creates urgency. Urgency can lead to poor decisions. If you’re approached with a single product or service as the fix to your financial stress, take a step back. That is not advice – it is a sales pitch. 

A genuine trusted adviser – whether an accountant, bookkeeper or finance broker – is a member of a professional body, bound by a code of conduct, and will slow the conversation down. They will present options, explain trade-offs and recommend what is in your best interest. This avoids bias and affords business owners maximum protection. 

Search engines and finfluencers are not your advisers. In a constrained economy, the wrong call at the wrong moment can have serious consequences. Start with one of the professional associations in this alliance. That is the right first step.” 

David Gandolfo OAM, Chair of Advocacy, CAFBA  

"CAFBA members have a long history of supporting their clients through economic challenges, including recessions, the COVID-19 pandemic, and natural disasters. They offer various services such as cashflow assistance, loan deferrals, and comprehensive strategic restructuring of existing facilities. These adjustments to loan terms and repayments help businesses adapt to reduced cashflows, ultimately enhancing their resilience to economic shocks. 

Our suggestion to borrowers is to plan ahead and forecast where their cashflow may be in the next three to six months if the current conditions continue. It’s important to contact their broker with a view to being proactive now rather than reactive when the pressure is far greater, and there are fewer solutions available.” 

Chris Freeland AM, CEO, CPA Australia 

“Small businesses are operating in an environment where rising costs, cashflow pressures and regulatory change are all hitting at the same time. We’re strongly encouraging business owners to strengthen their resilience by leaning on trusted advisers who know their business, understand how best to respond and can help them plan ahead. Engaging a professional adviser, like your accountant, isn’t just about compliance – it’s about protecting your business and having a trusted partner when it matters most.” 

Amanda Linton, CEO, Institute of Certified Bookkeepers 

“In periods of economic uncertainty, decisions made on incomplete or outdated information can have significant consequences for a business. Your professional bookkeeper ensures that financial data is accurate, current, and meaningful – giving you, the business owner, clarity on cashflow, obligations, and performance in real time. That clarity is critical. It allows businesses to move from reactive decisionmaking to informed, proactive strategy. Now more than ever, having access to reliable financial information isn’t just good practice – it’s essential for stability, resilience, and confidence in navigating what comes next. 

In times of uncertainty, accurate and up-to-date financial information is critical to making informed decisions. No one is better placed than your professional bookkeeper to provide that clarity, enabling businesses to act with confidence and respond proactively to changing conditions.” 

Anja Pannek, CEO, Mortgage & Finance Association of Australia 

“Finance and mortgage brokers play a critical role in helping small businesses navigate periods of uncertainty. 

Brokers work closely with business owners to understand their full financial position, explore a range of lending options and structure finance in a way that supports both immediate cashflow needs and longer-term growth. 

In a more complex economic environment, such as the one we find ourselves right now, early engagement with a broker as one of your trusted advisers can make a meaningful difference, helping businesses access the right funding options, avoid costly decisions and build resilience.”