Each year, the Australian Small Business and Family Enterprise Ombudsman (ASBFE ) release a statistical report that helps “…create a picture of small business in Australia and its contribution to our economy.”
The ASBFE says “Small business and family enterprise in Australia represent the ‘engine room’ of the economy and the heart of our community.” As an accountant working with small business operators, and their employees, for over 35 years, I fully support this statement.
Following are some statistics gleaned from the report that reveal a lot about small business in Australia. If you are a small business operator, or considering starting a business, you will find these statistics encouraging.
In terms of age demographics, the growing number of women in business and small business employment, it’s no wonder small busess is so dynamic.
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|Small Bus, Sector % of Total Business||98%|
|Contribution to Tax Revenue (2017-18)||22%|
|Contribution to GDP||32%|
|Construction is the Largest Contributor to Value Added Services||$71.3 billion|
|Small busienss employment – numbers (2018-19)||4.7 million|
|Small busienss employment – % of Business Workforce (2018-19)||41%|
|Largest Small Business Employer – Constuction (2018-19)||750000|
|Small Business Employment of Apprentices and Trainees (Dec 2019)||61%|
|45-59 Age Bracket of Small Business Owners||40%|
|30-44 Age Bracket of Small Business Owners||33%|
|60-over Age Bracket of Small Business Owners||19%|
|Under 30 Age Bracket of Small Business Owners||8%|
|Women in Small Busienss – Increase in Last 2 Decades (ABS 2019)||46%|
|Women Business Owner-Managers (ABS 2019) and Growing||34.80%|
|Small Business % of all Innovating Businesses||84%|
|Small Business R&D Spending (2019) – and growing||23%|
|Small Business as % of Total Exporters||59%|
|Total Businesses with Web Presence||47%|
|Small Business withot Web Presence 0-4 staff – % of total Business Web Presence) – ABS||63%|
|Small Business withot Web Presence 5-19 staff – % of total Business Web Presence) – ABS||41.90%|
Source: Australian Small Business and Family Enterprise Ombudsman
The Daily Telegraph:Business is blooming for female entrepreneurs