AMP Bank says cost-of-living pressures push Australians to cut small business spending first

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AMP analysis indicates cost-of-living pressures are causing Australians to reduce spending at small businesses first, shifting demand to larger retailers. Research shows nearly a quarter of consumers cut small business expenditure initially, with half supporting them only if affordable. Small operators face margin squeezes from rising wages, superannuation obligations, and supplier costs. In response, AMP Bank launched a cashback offer for new small-business customers.