Starting a business can be a very daunting experience. Entrepreneurs can take solace from the fact that the business environment in Australia is generally very conducive for small businesses. If you have skills/product that are in demand you will do well with the right support. All you need is some guidance and help to get started.
Below are some very encouraging statistics about businesses in Australia. Do not delay the start and join the club. We are here to assist! Go to www.company4me.com.au and complete the form in 15 minutes.
At the end of financial year 2018 the count of actively traded businesses in Australia increased by almost 80,000 (increase of 3.4% vs previous financial year) to finish at 2.3 million businesses.
AUSTRALIAN BUSINESSES BY INDUSTRIES:
Construction industry is the largest industry sector in Australia amounting to almost 17% or 380k+ of all businesses. Agriculture, Forestry & Fishing (A) and Mining (B) showed annual decrease.
Source(s):Counts of Australian Businesses, including Entries and Exits (cat. no. 8165.0)A – Agriculture, Forestry and Fishing; B – Mining; C – Manufacturing; D – Electricity, Gas, Water and Waste Services; E – Construction; F – Wholesale Trade; G – Retail Trade; H – Accommodation and Food Services; I – Transport, Postal and Warehousing; J – Information Media and Telecommunications; K – Financial and Insurance Services; L – Rental, Hiring and Real Estate Services; M – Professional, Scientific and Technical Services; N – Administrative and Support Services; O – Public Administration and Safety; P – Education and Training; Q – Health Care and Social Assistance; R – Arts and Recreation Services; S – Other Services
AUSTRALIAN BUSINESSES BY STATE:
New South Wales and Victoria contribute to 61% of the total businesses in Australia with NSW at 783k and VIC at 618k. The positive is that all states saw an increase in the number of new business registrations. These registered businesses can be sole trader/registered companies/trust or partnerships.
AUSTRALIAN BUSINESSES BY LEGAL TYPE:
Registering a company seems to be the preferred business model across Australia. A registered company has pros and cons compared to other models which we will cover in a different article. 38% of active businesses in Australia are companies. Company4me will provide you with all legal documents including certificate of incorporation within 5 minutes after successful submission of the order.
AUSTRALIAN BUSINESSES BY EMPLOYEE COUNT:
Majority businesses in Australia 62% (almost 1.5m) are non employing. Non-employing businesses had the greatest increase in financial year 2018 of 5% (65k)
AUSTRALIAN BUSINESSES BY REVENUE:
If you had any doubt about how important small businesses are for Australian economy the numbers and graph below may help you understand this fact. 93% of Australian businesses are classified as small businesses with revenue less than $2m.