2025 Business Pulse: Business resilience amid cost concerns

With insights from over 1,300 businesses across all sizes and sectors, the Victorian Chamber’s survey explored key challenges, strategic priorities and opportunities, revealing a business community that is adaptable and determined to thrive.

Despite ongoing challenges such as cost pressures, skills shortages and economic uncertainty, businesses are embracing digital transformation and investing in workforce development.

Many are also seeking practical support to navigate change and unlock new growth opportunities.

Main findings include:

Key business challenges

The top challenges faced by respondents include:

1. Rising cost of doing business​
2. Concerns about Victoria’s future economic conditions
3. Reduced or inconsistent business revenue​
4. Navigating regulatory changes and compliance requirements
5. Staff skill shortages

Top business objectives

The top objectives for businesses for the next 12 months include:

1. Grow revenue
2. Grow brand and marketing awareness
3. Increase employee productivity
4. Reduce operating expenses
5. AI adoption and protection
6. Improve employee engagement and wellbeing
7. Build digital capability

Other key supports

Of the support areas most needed:

• For many businesses, marketing and brand awareness is seen as critical for growth, with many seeking support in marketing strategy, channel selection, content creation and social media.
• Growing in prominence year-on-year is AI and technology enablement, with practical support wanted for AI adoption, integration and training.
• Businesses upskilling and workforce development is a focus for many businesses, especially in areas like management training, executive coaching and compliance.
• Access to funding is also a key area of interest, particularly around support for funding, grants or investment opportunities.
• HR and workplace relations continues to be in strong demand, with businesses looking for HR tools, templates, expert advice and employee wellbeing programs.

While 60 per cent of respondents remain concerned about the cost of doing business, nearly as many (58per cent) identify revenue growth as a key objective for 2026 and beyond. Interest in AI continues to climb – also cited by 30 per cent – highlighting a clear shift toward future-focused strategies and skills development.

These insights underscore the urgent need for targeted policies and practical support to reduce costs, close skills gaps and foster innovation.

Read the full report