The annual pre-Budget survey of our mid-market client base by KPMG Enterprise this year took place just two months before the Federal Budget which will be handed down on Tuesday, 14 May 2024.

Our survey of 100 leaders in mid-tier Australian businesses – ranging from listed companies just outside the ASX 200, to private companies and family businesses – reveals a mood of cautious optimism with more than a half treading carefully and suggesting growth of around 2-3% over the next 12 months, but with a doubling of that figure over the following two years.

The two top challenges for Mid-Market businesses in the next 1-3 years remains like prior years as cost and margin pressures and the recruitment and retention of skilled staff. 

The survey themes highlight the shift in perceptions and the current and future challenges and opportunities faced by Mid-Market businesses in Australia, including economic conditions, business growth forecasts, wage expectations. Current and emerging perceptions include the impact of cost of living, tax reforms, AI implementation, work environment changes, and Superannuation Legislation.