14 April 2026
Security seeker? Passion pursuer? Or greatness aspirer? Which type of small business owner are you?
Australians don’t all run businesses the same way and many are not chasing rapid growth, according to new NAB research.
The research about micro and nano business owners across Australia identified five distinct business mindsets, challenging the long‑held assumption that success always means scaling up.
With about 2.4 million micro and nano businesses nationwide powering the economy, the findings suggest most of our smallest business owners are focused on confidence, control and steady income, rather than expansion at any cost.
The five business mindsets identified were:
NAB head of micro nano business growth Jo Koklas said the findings showed why bank support needed to be practical and flexible.
“Most small business owners are not chasing scale. They are chasing confidence, flexibility and a reliable income,” Ms Koklas said.
“If banks treat every business as if growth is the only goal, we miss what actually matters to most people running businesses today.”
The research also found many business owners move between mindsets over time. A side‑gig or passion project may become more established, while some owners deliberately choose stability over growth, particularly during periods of economic uncertainty.
The findings also reinforce the need for banking that adapts to real business needs, rather than forcing small businesses into a single growth model.
“Despite running businesses, many Australians don’t even identify as business owners,” Ms Koklas said.
“There’s many different definitions out there but a nano business is essentially a sole trader running their business with a transaction account, while a micro business might have a couple of employees and maybe a loan or payment tools or tech.
“Confidence, not capability, is often the barrier. Our role is to remove complexity and friction so people can spend less time on admin and cash flow stress, and more time running their business.”
NAB provides tailored support for micro and nano businesses, including $0 monthly fee business transaction accounts, and a team of expert bankers solely focused on these customers and their needs.
Megan Fairbairn said she identified as a passion pursuer, drawing on her background as a teacher to open playful learning studio Bright Little Sparks in Hawthorn, Victoria in August 2024.
“I discovered the fun and benefit of play-based learning as a teacher and mum. I started Bright Little Sparks to share my educational play ideas with other families. I wanted to create the space I wished for when my three kids were little,” Ms Fairbairn said.
Megan Fairbairn, owner of Bright Little Sparks
“I value the freedom, flexibility and purpose I’ve got from starting and running a business. That definitely aligns with being a passion pursuer.” Small businesses remain a critical part of Australia’s economy, particularly during periods of global and domestic uncertainty.
“Micro and nano businesses are resilient, but confidence can take a hit when the outlook feels uncertain,” Ms Koklas said.
“Whether you are a security seeker or a greatness aspirer, backing Australia’s smallest businesses means backing jobs, communities and economic stability.”
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