BUSINESS
Aussie small business weathering Middle East oil storm
Australian small businesses are currently weathering the storm from the Middle East crisis and back-to-back rate hikes, but experts warn the worst is yet to come.
Fresh figures by accounting software provider Xero shows Australian small businesses continued their strong momentum, with a 7.2 per cent year-on-year increase in sales for the first quarter of 2026.
Surprisingly in the month of March sales momentum accelerated up 10.9 year-on-year, despite it being the month when fuel prices jumped due to the US/Israel and Iran conflict.
According to the ABS, transport prices added 9.2 per cent to costs, primarily due to a 32.8 per cent surge in monthly automotive fuel prices.