A new report released today confirms the significance of Australia’s two million small businesses to the Australian economy. The research reinforces the essential and vital a role the small business sector plays in Australia’s economic life. The report was compiled by the Department of Innovation, Industry, Science and Research, using data from the Australian Bureau of Statistics and other sources.
Australia’s small businesses account for nearly 98 per cent of all businesses in the agriculture sector, about 96 per cent in the services sector, about 91 per cent in the mining sector and just over 88 per cent in the manufacturing sector and also accounted for nearly half of total industry employment and a third of industry value-added in 2009/10. Clearly small businesses have a major presence in all industry sectors.
There are a number of Government support programs that directly assist small businesses, including the Small Business Advisory Services program. The Government has already committed $48.25 million to fund 37 Business Enterprise Centres around Australia through this program.
A copy of Small Business Key Statistics is available at www.innovation.gov.au
Details of the support available for small businesses is available by contacting the team at Pattens.
