NAB surveyed 760 SMEs in the September quarter and found that those who expect the impact to be very significant in the next 12 months also rose from 34 per cent to 38 per cent across the same period.
The research also showed more than four in 10 business owners (42 per cent) would consider employing migrant workers, foreign students, backpackers, or similar in the next six months if available. This was highest in Tasmania (56 per cent), South Australia (52 per cent) and Western Australia (47 per cent) and lowest in NSW (36 per cent).
By sector, labour shortages were most severe in construction and health and lowest in finance & insurance and property services.
NAB executive for business metro, Michael Saadie, said the strong jobs market was supportive of a resilient economy, although the continuing shortage of labour could impact growth prospects for many SMEs.
“It’s clear there’s still a wealth of opportunity in Australia, one of the strongest economies in the world,” Mr Saadie said.
“However, when speaking with business owners it’s clear hiring and retaining staff remains a critical challenge and is preventing some SMEs from growing as quickly as they want.
“It’s great to see outcomes from September’s Jobs and Skills summit included in the Albanese Government’s first Budget, including a boost to the permanent skilled migration cap, speeding up visa processing times and some positive steps toward better aligning higher education to the skills we need.
“However, there’s further work to be done to make more workers available to businesses.
“Customers want to see further improvements to Australia’s education and training systems to provide the talent needed for a digital, low carbon economy, as well as better targeted visa settings and more compelling pathways to permanent residency.”
By state, four in 10 business owners in Tasmania, Western Australia, and Queensland said labour shortages were a very significant issue over the past three months as against around one in three in South Australia, Victoria, and NSW.
