For Small Business Owners: "We Celebrate You!"
/Hey Small Business Owners, you are worthy of CELEBRATION!
Did you know that?
Almost 98% of Australian businesses are Small Businesses (defined by the ATO as a turnover of up to $10 million or less).
93% of these have a turnover of less than $2 million.
2,506,012 small businesses operate in Australia, an increase of 7% from the previous year, wow!
The main industry being construction, followed closely by professional services.
WA supports 235,050 small businesses - that makes up 9% of Australian small business.
Small business contributes one-third of Australia’s GDP, some $506 billion, an increase of 15% from the previous year, well done us!
Employment increased by 120,000 in twelve months, providing jobs for over 5 million people in total.
Small businesses employ 42% of all apprentices and trainees in-training.
47% of small business owners are aged 50 and over, 22% are 60 and over and 8% are aged under 30.
Women business owners have increased from 19% in 1966 to 35% in 2021, which is three times faster than men.
More research is underway to deepen understanding of First Nations Australian business ownership as data is limited.
One out of three business owners were born outside of Australia and 23% use a language other than English at home.
55% of small business owners work full-time with 1-19 employees earning less than the average full-time adult wage.
61% of small business owners with 1-19 employees work 39 hours or more per week.
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The Small Business Matters report from the Australian Small Business and Family Enterprise Ombudsman has been released HERE and we are playing a huge role in the progress of this country, I celebrate you!
Many people choose to own and operate a small business that provides flexible working hours to suit their lifestyle. This may include community work, caring for children, a person with a disability, a health condition, or due to old age. 14% of small business owners provide unpaid caring assistance and 21% work 15 hours or more in unpaid domestic work. We are community minded too!
Small business is contributing not only to the financial and employment growth of Australia we are also passing on knowledge to apprentices and trainees AND finding time to care for vulnerable members of the community.
If you can relate to any of the information shared here, please do leave a comment, as I would like to hear about your small business journey and celebrate your accomplishments.
QiBalance Bookkeeping celebrates you!
Reference: www.asbfeo.gov.au
