Fewer Business Busts, Small Business Driving Economy

Data Reveals Fewer Business Busts, Small Business Driving Economy

A new report from the Australian Bureau of Statistics (ABS) reveals that small businesses were the main driver behind the number of businesses being created in 2011-12.

The ABS Publication, Counts of Australian Businesses, including Entries and Exits, released yesterday, reveals there were 2,141,280 actively trading businesses in Australia at June 2012, a rise of 8,868 businesses or 0.4% from a year earlier.

The vast majority (96%) of Australian businesses in June 2012 were small businesses.

Gary Green, National Sales Director, Bibby Financial Services, is available to comment on the data, including the following:

Small businesses the engine behind Australian economy

Fewer businesses going out of business

Challenges for small businesses ahead

Better ways of doing business

The positive report from the ABS backs findings from the latest Bibby Barometer survey which reveals that business optimism has returned to levels not seen in almost two years. 

The latest Barometer found 65% cent of small businesses are more optimistic about sales growth in the coming 12 months, up from 55% in the previous survey. 

However, despite the recovery in business optimism, cash flow continues to be a leading constraint. The Barometer found that 48% of small businesses are experiencing problems with cash flow.

ENDS 

© Scoop Media