10 FACTS about small business in Australia
10 FACTS about small business in Australia
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There are 2 million small businesses in Australia
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97% of Australian businesses are small business
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Small business contributes 33% of the GDP
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The most dominating industries of small business are real estate service, construction, professional scientific and and technical services
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It provides 68% of national employment
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Small Business pay up to 12% of national tax contribution. Medium Business 23%, Large Business 65%.
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Half the small businesses do not survive their first 5 years
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Cash flow is the most concerned management problem
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The majority of small businesses go bankrupt due to lack of strategic planning and poor financial management
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Most small businesses do not seek for professional advice
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