27 June is World Micro, Small and Medium Enterprises Day.
In April 2024 alone, total credit outstanding to micro, small and medium businesses increased $6 billion, highlighting Australian banks’ support for our re-emerging economy. This brings the combined total lending for SME’s to over $645 billion.
Related Insights
SME
SMEs by industry
There were 2.35 million SMEs in Australia in 2020. The most (almost 400k) SMEs were in the construction industry.
COVID, SME
COVID-19 SME lending
61% of all new business loans during the first 300 days of the COVID-19 pandemic were to small or medium sized enterprises.