A cafe owner working up to 60 hours a week has opened up on the"tough" reality of navigating the cost of living crisis as a new report lays bare the financial struggles.
Mr Thomsen's comments come as a new report from accounting software company Xero showed 60 per cent of small businesses in Australia are already experiencing cash-flow problems. Mr Thomsen said recession predictions and the"doom and gloom" in the media meant it was only a matter of time before consumer sentiment shifted and shoppers begun to reign in their spending.
The price of milk, a staple for cafe owners, had risen"100 per cent" over the last three to four years he said, presenting a major challenge to profits.