25 November 2021
Of the 2.4 million businesses in Australia, the majority (2.35 million or 98 per cent) are small businesses.
Nearly two-thirds of businesses are sole traders and more than a third employ 1-19 staff. The state with the largest number of SMEs is NSW, with 33% of all SMEs located in NSW.
The industry with the largest number of small businesses is construction (17%) followed by professional, scientific, and technical services (13%) then rental, hiring and real estate services (11%).
Latest news
The ABA says the 2026 Federal Budget lays the groundwork for reforms that enhance productivity across the financial services sector and the broader economy. Projected improvements to the overall Budget position through lower deficits and a more sustainable fiscal trajectory are also welcome. Ongoing fiscal discipline, including spending restraint, will be key to placing… Read more »
E&OERadio Interview2SM Sydney8 May 2026. Topics: Banking hardship support for customers; competition within the banking sector. Tim Webster (Host): So, we’ve done a story ourselves, and it’s a troubling time for people who have a mortgage. They just copped an interest rate rise, and the suggestion is there’ll be even more of them throughout the… Read more »
Customers facing financial stress from ongoing cost pressures and higher loan repayments are being urged to get in touch with their bank if they need support. ABA CEO Simon Birmingham said banks have a range of practical measures they can put in place to help customers navigate the current economic environment. “Australian banks recognise that… Read more »