Fuel costs, housing shortages and hiring struggles are converging on regional Australia, according to a new COSBOA and CommBank-backed report. Regional Australian small businesses are under sustained financial and operational strain, according to new research from the Council of Small Business Organisations Australia (COSBOA), released with support from CommBank. Eighty seven percent of regional small businesses reported that operating expenses had increased over the past year, while 73% said profit had fallen. “Regional small businesses don’t just support local economies, in many communities, they are the local economy. “Regional small businesses have shown they are prepared to adapt, but they cannot keep absorbing rising costs, workforce shortages and service gaps without the right support around them.