Fricken tough: Small business groups are raising the economic alarm with MPs
Mo Saad is waiting for the economic "light at the end of the tunnel" before his popular Canberra fried chicken restaurant Fricken considers expanding.
Mo Saad is praying for at least one interest rate cut in the near future from the Reserve Bank of Australia. It’s one of several issues the co-owner of Canberra’s popular restaurant and food truck business, Fricken, shared with Capital Brief when we called to ask how his business is faring in the current economic climate.
“We’re facing multiple challenges,” Saad says. “The biggest challenges are the rising costs of goods and utilities, product availability as well.
“When you’re facing challenges like that … it’s hard not to point the finger at the economy.”
Small businesses like Saad’s are often described as the engine room of the Australian economy, employing nearly half of the workforce and contributing significantly to GDP. Many are grappling with a tough economic environment, which representative bodies argue is being felt more keenly on the small end of town.
