small business statistics australia

Sources:

• Australian Bureau of Statistics (ABS) – https://www.abs.gov.au/
• Australian Small Business and Family Enterprise Ombudsman (ASBFEO) – https://www.asbfeo.gov.au/
• Australian Securities and Investments Commission (ASIC) – https://asic.gov.au/
• Small businesses make up 97% of all businesses in Australia
• They employ 44% of the Australian workforce
• Small businesses contribute 35% of Australia’s GDP
• The top three industries for small businesses in Australia are construction, professional, scientific and technical services, and retail trade
• 60% of small businesses in Australia are sole traders
• The survival rate for small businesses in Australia after four years is around 60%
• Small businesses in Australia face challenges with access to finance, competition, and finding skilled staff.