A recent report found that most Australian SME owners do not regret starting a business, despite facing financial pressure and personal trade-offs. According to the report, 79% of owners have never regretted starting a business, while only 8% said they still regret the decision.
The survey of 1500 small-business customers also found that financial return is not the primary reason many business owners continue to operate. Around 35% of respondents said fulfilment or a sense of purpose is the main reward of running a business, while 10.5% cited financial gain.
Pressures of Running a Business
Nearly two-thirds of respondents said they experienced financial stress during the past year. More than 60% continued working while ill, almost one-third said they had never taken a full week off since starting their business, and more than half had considered closing or selling their business.
Related: The Changing Face of Gambling in the UK
Brad Miller, BizCover GM, said that many owners remain committed to their businesses despite experiencing financial stress, long working hours, and personal sacrifice. Miller noted that financial success is an important factor but not the only reason people start or continue running a business.
Owners’ Perspectives
Michelle Leach, founder of Perth-based ecommerce business Mikki & Me, said she would start a business again if given the opportunity, but would do so differently. Leach, who was diagnosed with a rare form of blood cancer, said she is proud of her business and career, but recognizes that some of the ways she achieved those things were not sustainable.
For many owners, pursuing a passion, maintaining independence, and building a business provide a sense of purpose and fulfilment beyond financial gain. This sense of purpose can be a powerful motivator, even in the face of significant challenges.
Related: CBM warns UK steel safeguards only delay decline
In practice, this means that SME owners are often driven by a desire to create something meaningful and lasting, rather than just seeking financial rewards. This can have a profound impact on their willingness to persevere through difficult times and make personal sacrifices for the sake of their business.
Implications for the Economy
According to analysis by ASBFEO, based on ABS data, small businesses accounted for 97.3% of Australian businesses as of June 2025. The report said the conditions facing SME owners have implications for the Australian economy and labour market.
The report’s findings highlight the importance of supporting SME owners and addressing the challenges they face. By providing resources and services that help owners manage financial stress and maintain a healthy work-life balance, it may be possible to improve outcomes for both the businesses and the broader economy.