Rateseeker Round-up: March Business News
As we cruise through the start of 2025, the business landscape is anything but boring. There’s a mix of steady progress, global shakeups, and fresh insights that are shaping how Aussie businesses operate right now.
Inflation is sitting comfortably within the Reserve Bank’s target range, but dig a little deeper and the picture gets more interesting. Some industries are still feeling the squeeze, while others are catching a bit of a break on costs.
On the global front, new US tariffs are causing a stir, especially for Australian manufacturers and retailers with international supply chains. Rising costs and added red tape are pushing businesses to rethink their sourcing strategies.
Closer to home, the government is finally stepping in to protect small businesses from unfair treatment by bigger players. The goal? To level the playing field and crack down on dodgy conduct that’s been flying under the radar.
In more positive news, building approvals are on the rise again, good news for the construction sector and anyone watching housing supply. Plus, some essential workers may be eligible for special home loan deals that could mean big savings.
And for young Australians trying to break into the workforce, new data shows that attitude really does matter. Employers say they are more likely to hire someone with a great mindset over someone with more experience, something to keep in mind if you are just starting out.
It has been a busy month across the board, so let’s explore what is driving the conversation in business right now.
US Tariffs Could Shake Things Up for Aussie Businesses
Aussie businesses with international ties, especially those trading with or operating in the US, might want to buckle up. A new round of tariffs from the US government is set to introduce higher costs, increased bureaucracy, and greater complexity to global supply chains.
A recent PwC report highlights that manufacturers and retailers will likely feel it most. Many rely on supply chains that stretch through Canada, Mexico, and China, and these networks are now under tighter scrutiny. That means more expensive goods and a trickier time getting them.
Many of these businesses depend on supply chains linked to nearby markets such as Canada and Mexico or are integrated with value chains that rely on Chinese goods
PwC
But that is just part of the story.
Exporters may soon have to prove exactly where their goods come from to convince US regulators that items are not being rerouted through countries like China to dodge tariffs. That could mean more paperwork, admin, and time, especially for businesses without detailed tracking systems.
Even if your business is not directly selling to the US or China, the impact could still land on your doorstep. PwC warns that disruptions to global supply chains could result in delays, rising costs, or both, for a wide range of local companies.
Bottom line? If your business relies on international supply or distribution, now is the time to reassess. Reviewing your supply chain, checking your exposure to tariffs, and exploring new sourcing options could save you major headaches down the line.
Government Shields Small Businesses from Unfair Trading Practices
If you run a small business, you might be all too familiar with being pushed around by bigger players. The federal government says enough is enough, and it’s planning to step in.
This year, Treasury will start looking at new rules to stop large companies from using their power to squeeze smaller businesses. That could include a new principle-based ban on unfair trading practices, as well as a crackdown on specific tactics that leave small operators exposed.
Some of the practices under review include:
- Larger businesses are using their bargaining power to push smaller suppliers into changing contract terms unfairly
- Discouraging small businesses from asserting their legal rights by hinting at possible commercial consequences
- Threatening to delist suppliers as retaliation for requesting a price increase that they are contractually entitled to
Sound familiar? Small Business Ombudsman Bruce Billson says big businesses often find ways to dodge the rules, mainly by keeping shady behaviour off the written contract.
Dominant and powerful businesses know that if this kind of dodgy conduct were written into a take it or leave it contract, they would likely be in breach of the unfair contract terms laws,” he said. “But by not writing it down and conducting themselves in the same manner, this harmful conduct is outside the reach of the current law unless it reaches the very high bar of egregious conduct.
Bruce Billson – Small Business Ombudsman
The good news is that the loophole might finally be closing. For small businesses, this could be the start of fairer partnerships, more transparency, and fewer power plays from big-name clients.
Inflation’s at 2.5%, But It Really Depends on What You’re Paying For
Inflation is sitting at a moderate 2.5 % nationwide, according to the latest numbers from the Australian Bureau of Statistics. But here is the thing, it is not being felt the same way across the board.
Some sectors are still experiencing significant increases in costs. Education prices are up 6.5 % over the past year, alcohol and tobacco are not far behind at 6.4 %, and insurance and financial services have climbed 5.3 %. If your business operates in any of those areas, your cost base has likely crept up more than you would like.
On the flip side, other sectors are getting off easier. Recreation and culture saw prices rise by just 0.9%, transport edged up by 0.5%, and communications dropped by 0.6%. If your business depends on those kinds of inputs, things might be feeling more stable.
What does all this mean? While national inflation looks under control, your business could be having a very different experience depending on what you are buying and what you are selling.
Meanwhile, the Reserve Bank of Australia shared its latest Statement on Monetary Policy in February and is still expecting inflation to stay within its 2 to 3% target range over the coming period. That said, the RBA has nudged its forecast slightly higher compared to three months ago.
Why the shift? The RBA is now expecting stronger economic growth and tighter labour market conditions, which could add some pressure to inflation over time. Still, the central bank believes that inflation expectations are well-anchored and that everything remains on track in the long run.
While we are in a relatively stable position overall, it is worth keeping a close eye on the specific cost trends that matter most to your business. They might be moving faster or slower than you think.
Hiring Trends Show Hope for Young Jobseekers
Finding a job is still proving tough for many young Australians. For those aged 15 to 24, the unemployment rate sits around five percentage points higher than the national average, a gap that reflects some real challenges in the path from education to stable work.
According to Jobs and Skills Australia (JSA), “the path to stable employment has become increasingly complex.” To dig deeper, JSA spoke directly with employers to better understand what they are looking for when hiring young workers, and the results might surprise you.
It turns out that attitude matters most. 60% of employers who had recently hired young people said they made their decision based primarily on the applicant’s attitude. That came well ahead of more traditional factors like experience (19%) or communication skills (18%).
The industries seeing the highest number of young applicants were accommodation and food services (75% of businesses reported young candidates), followed by health care and social assistance (70%), and retail trade (68%).
As for how employers are finding their new hires, job boards are still the most popular method (used by 37% of businesses), followed by word of mouth (30%) and direct approaches from jobseekers (19%).
So while the job market can be tough for younger Australians, there are still clear opportunities, especially for those who show up with the right mindset, a willingness to learn, and a proactive approach to job hunting.
Stay Ahead of The Game
From inflation trends to global trade shifts, housing approvals to youth employment insights, this month has delivered plenty for Australian business owners to keep an eye on.
Whether you’re managing rising business costs, navigating supply chain changes, or planning your next financial move, staying informed is key, and you don’t have to do it alone.
Get in touch with the team at Rateseeker for expert guidance tailored to your business goals. We’re here to help you make smarter decisions, uncover better deals, and stay one step ahead.
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