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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: