MYOB says AI-using SMEs are growing 2.8 times faster

Australian small and medium-sized businesses using artificial intelligence are growing 2.8 times faster than those not using it, according to MYOB. The finding is based on analysis of anonymised data from hundreds of thousands of SMEs.

MYOB said 40% of SMEs are now adopting AI, while separate survey data suggests a sizeable group is still holding back. In its latest Business Monitor survey of more than 1,000 SMEs, 46% said they were not using AI and did not intend to do so over the next 12 months.

The figures point to a widening split between businesses incorporating AI into daily work and those that remain unconvinced. Among AI users, the most commonly reported benefits were time savings and productivity gains: 54% said AI saves time and 34% said it improves productivity.

MYOB's modelling compared median income growth for SMEs using AI with a benchmark group of non-users. It drew on transaction, bank-feed and payroll data across matched periods before and after adoption.

Adoption Gap

Chief executive Paul Robson said the results showed a growing divide between early adopters and the rest of the small business sector.

"AI is the most powerful productivity lever the SME economy has experienced in years, already delivering measurable gains in efficiency, growth and revenue," Robson said.

"Those adopting early are pulling ahead, and even modest uptake could unlock billions in additional revenue for the economy. As a core part of Australia's technology sector for 35 years, MYOB sees AI transforming every employee's impact, shifting from a 'nice to have' to a business-critical investment, though many SMEs still face barriers around trust, skills and understanding its value."

While MYOB linked AI use with stronger business growth, its survey results also pointed to weak workforce preparation. Two-thirds of SME employers are not actively seeking AI experience when hiring, and 72% have no plans to offer AI training.

The gap between technology investment and employee readiness remains a key barrier to broader adoption. Practical support will be needed if more smaller firms are to use the tools responsibly and consistently.

Embedded Tools

Use of AI among smaller businesses is shifting from stand-alone experimentation to software embedded in routine processes, according to MYOB. Businesses are increasingly using AI within management systems rather than treating it as a separate layer.

MYOB has introduced several AI-based features in its software platform, including an AI BAS support agent, AI Business Insights, Smart Reconciliation and Smart Invoice Reminders. These products are intended to reduce work tied to compliance and cash flow management.

It also recently announced a five-year partnership with Microsoft to fund and develop AI products across its software suite. The agreement focuses on embedding AI into routine workflows, including tools designed to forecast cash flow, support compliance preparation and provide prompts within existing products.

The latest data adds to a broader debate over whether Australia's small business sector can keep pace with AI adoption in larger organisations. SMEs account for a large share of the country's employers, but many lack dedicated technology teams and formal training budgets, slowing rollout even where software is available.

MYOB said government policy would also play a role in lifting uptake. It welcomed the Federal Government's AUD $17 million AI Adopt Program, part of the National AI Plan.

Robson said wider coordination would be needed to turn interest in the technology into economic gains across the sector.

"With the right collaboration between industry, experts and government, we can help more SMEs turn that growth potential into real impact," he said.