Business owners 'having to make many sacrifices'

Getting a small enterprise up and running is not easy at the best of times, but it is nigh on impossible when the economy is shaky.

The economic downturn has made it extremely difficult for entrepreneurs to launch their organisations and access to business loans has become very restricted, as banks are not willing to take unnecessary risks.

It was no surprise when Roy Morgan Research revealed earlier this month that confidence levels among Australian firms are at their lowest ebb since August 2011.

According to the latest MYOB Business Monitor, people are taking drastic measures to keep their companies afloat, the Sydney Morning Herald reports.

Around 87 per cent of small and medium-sized enterprise owners said they have had to make some sort of sacrifice for the good of their business.

Nearly one in three do not take any holidays at all, while 21 per cent have had to take on a second job in order to boost their income.

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