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A survey of more than 1,000 small businesses found while overall SME confidence is at a decade high, the retail sector is the most pessimistic of any industry about sales and profitability into 2019.
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More than one quarter of retail businesses reported being worried about the coming months, compared with just 5 per cent of businesses in the cafe and restaurant space.
There's one key fear among retailers: lack of sales, with 19 per cent of retailers saying they were concerned they were not going to move enough stock in the next quarter.
Latif agrees that times are tough for retail and beauty brands — and says you just have to deal with it.
"If you’re not good at the business side of things, you are going to fail," she says.
The $3 million brow business is based at major shopping centres and sells its formulas online across Australia. Despite negative stories about expensive retail rents, Latif says if you know where to look, you will find customers willing to part with their cash.
Destination retail hubs like Melbourne's Chadstone haven't been the best fit for Ottoman in the past, but the company has found better strike rates in out suburban shopping areas. Its most successful store is Watergardens shopping centre, Latif says.
"The Western suburbs [of Melbourne] don't have a great rap, but the money is there. People want value and they want quality."
Lending tough but "should be difficult"
Small business confidence in metropolitan cities is still the highest since 2008, according to Sensis, though access to capital is still a significant issue.
In the same week that the final report on the royal commission into banking and financial services was released, smaller operators told Sensis access to finance is at its lowest level since March 2013.
In the three months to December 2017, one quarter of businesses said it was "relatively easy" to secure a bank loan. One year later, the number of businesses finding it easy sat at 9 per cent.
While many are worried about further tightening of credit, Latif says this may not be such a bad thing.
"If the bank is not giving you the money, it means you’re not good for it. Seven or eight years ago, the banks wouldn't give me a loan," she says.
These days, Ottoman3 can get a bank loan "any day of the week".
"In the short term it sucks, if you can't get a loan... but you need time in the market to show that you are risk-averse," Latif says.
Small business ombudsman Kate Carnell and other key business figures have issued strong warnings that the findings of the royal commission could result in a further tightening of an already tricky credit pipeline.
Ten years into running her business, Latif believes businesses should have to jump hurdles in order to prove they are able to repay business loans.
"It should be difficult... nobody wants to anyone to crash."
Emma is the small business reporter for The Age and Sydney Morning Herald based in Melbourne.