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Australian Small Business Key Statistics and Analysis

Australian Small Business KEY Statistics AND ANALYSISDECEMBER 2012 Commonwealth of Australia 2012 ISBN 978-1-922125-91-0 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Commonwealth. Requests and inquiries concerning reproduction and rights should be addressed to the Department of Industry, Innovation, Science, Research and Tertiary Education, GPO Box 9839, Canberra ACT publication has been prepared by the Industry Policy and Analysis Branch in the Department of Industry, Innovation, Science, Research and Tertiary Education.

Table 11: Estimated number of small businesses by main state of . operation and industry 36 Table 12: Percentage of small businesses within each state by industry, 2010–11 39 Table 13: Business entries and exits by employment size, 2010–11 41 Table 14: Business “survival” rates by employment size, between June 2007 to . June 2011 42

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Transcription of Australian Small Business Key Statistics and Analysis

1 Australian Small Business KEY Statistics AND ANALYSISDECEMBER 2012 Commonwealth of Australia 2012 ISBN 978-1-922125-91-0 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Commonwealth. Requests and inquiries concerning reproduction and rights should be addressed to the Department of Industry, Innovation, Science, Research and Tertiary Education, GPO Box 9839, Canberra ACT publication has been prepared by the Industry Policy and Analysis Branch in the Department of Industry, Innovation, Science, Research and Tertiary Education.

2 It is available on the department s Department of Industry, Innovation, Science, Research and Tertiary Education would like to thank Professor Per Davidsson, Dr. Scott Gordon, Associate Professor Paul Steffens and their colleagues from the Australian Centre for Entrepreneurship Research for their contribution to this publication. For more information on CAUSEE, related research, or the Australian Centre for Entrepreneurship Research visit: report was prepared by Megan Clark, Melissa Eaton, David Meek, Emily Pye and Razib Tuhin. Assistance was provided by Richard Snabel, Nils de Jager, Arthur Lau, Ronesh Chandra, Anthony Scoble and Damien Ellwood.

3 Also, a special thank you to everyone who commented and/or provided inquiries about this report or to obtain a copy, contact the Manager, Economic Conditions Section, material in this publication is collected by the Department of Industry, Innovation, Science, Research and Tertiary Education (DIISRTE) from various external sources, for information purposes only. This material is made available on the understanding that DIISRTE is not engaged in rendering professional advice. This material contains no warranties or representations. DIISRTE does not guarantee and accepts no liability whatsoever arising from or connected to, the accuracy, reliability, currency or completeness of any material contained in this publication.

4 This material may include the views or recommendations of third parties, which do not necessarily reflect the views of Small Business KEY Statistics AND Analysis n CONTENTSiiiCONTENTSD efinitions viiIntroduction 1 Chapter 1: Early Stage Start-Ups: Evidence from the Comprehensive Australian Study of Entrepreneurial Emergence (CAUSEE) 4 Numbers and types of start-up attempts 4 Survival, employment and growth 6 Characteristics of new venture founders 9 Exports and other international activities 11 Business confidence and the global financial crisis 12 Finance 13 Innovation and e-commerce 15 Chapter 2: Small businesses in the economy 20 Industry value added private sector 20 How many people do Small businesses employ in the private sector?

5 23 Small Business exports 25 Chapter 3: Number of Small businesses in Australia 28 Business numbers by size 28 Small Business numbers by industry sector 29 Chapter 4: Selected Business characteristics 31 Business structure and arrangements 31 Business markets and competition 33 Business finance 34 Skills 34 Business performance 35 Chapter 5: Number of Small businesses by region 36 Business numbers by state 36 Chapter 6: Business entries and exits 40 Small Business entries and exits 40 Survival rates 42 Chapter 7: Independent contractors and other Business operators 44 Demographics 44 Work pattern 45 Industry and occupation of main job 47ivAUSTRALIAN Small Business KEY Statistics AND Analysis n CoNTENTSC hapter 8: Business conditions and confidence 49 Small and medium Business conditions 49 Small and medium Business confidence 52 Employment 53 Profits 54 Chapter 9: Small Business bank lending 56 Trends in Small Business access to finance 57 Trends in interest rates on Business loans 61 Chapter 10.

6 Innovation, collaboration, research and development 63 Innovative activity 63 Barriers to innovation 64 Business performance where collaboration agreements are in place 64 Research & development 66 Chapter 11: e-commerce 68 Business use of the internet 68 SME investment in e-commerce 70 Social media 71 Appendix A Statistical definitions and explanatory notes 72 Appendix B Actively trading Small businesses by region 76 Actively trading Small businesses by electoral division 76 Actively trading Small businesses by local government area 78 Appendix C Text descriptions of figures 86 Bibliography 98 FIGURESF igure 1: Cumulative firm outcomes after 36 months 7 Figure 2.

7 Outcome distribution by type of nascent firm (Product/Service) after 36 months 8 Figure 3: Employment in nascent and young firms 9 Figure 4: Founder gender distribution from a firm-level perspective 10 Figure 5: Nascent and young firms participation in imports and exports over time 11 Figure 6: Seeking and receiving external funding (nascent firms only) 14 Figure 7: Estimated total novelty of nascent and young firms over time 16 Figure 8: Actual/expected share of sales generated online 17 Figure 9: Contribution to private sector industry value added by Business size, 2010 11 20 Figure 10: Industry contribution to Small Business private sector industry value added, 2010 11 21 Australian Small Business KEY Statistics AND Analysis n CONTENTSvFigure 11: Share of private sector employment by Business size, at end June 2011 23 Figure 12: Share of Small Business employment by industry, at end June 2011 23 Figure 13: Number of goods exporters by Business size, 2006 07 to 2010 11 25 Figure 14.

8 Share and annual change in the number of Small Business goods exporters by industry, 2010 11 26 Figure 15: Share and annual change in the value of Small Business goods exports by industry, 2010 11 27 Figure 16: Distribution of total Business numbers by Business size, June 2011 28 Figure 17: Distribution of businesses , including Small Business sub-categories, by size, June 2011 29 Figure 18: Small Business numbers by state, 2010 11 37 Figure 19: Breakdown of Small businesses within each industry by state, 2010 11 38 Figure 20: Small Business survival rates by state/territory, between June 2007 to June 2011 43 Figure 21: Survival rates by industry and Business size, between June 2007 to June 2011 43 Figure 22: Gender distribution of independent contractors and other Business operators, November 2011 44 Figure 23: Business conditions, five years to the June quarter 2012 51 Figure 24: Business confidence, five years to the June quarter 2012 52 Figure 25: Business employment conditions, five years to the June quarter 2012 54 Figure 26.

9 Business profits, five years to the June quarter 2012 55 Figure 27: Selected financial aggregates 58 Figure 28: Value of outstanding bank lending by size of Business loan 59 Figure 29: New bank credit approvals by size of Business loan 60 Figure 30: Value of outstanding bank loans that were less than $2 million, by industry 61 Figure 31: Spread between Business lending rates 61 Figure 32: RBA Small Business indicator rate vs. the RBA cash rate target 62 Figure 33: Barriers to innovation, 2010 11 64 Figure 34: Business expenditure on research and development by Business size (current prices) 66 Figure 35: Annual growth in Business expenditure on research and development by Business size, 2007 08 to 2010 11 67 Figure 36: Value of BERD by Business size in selected industries, 2009 10 and 2010 11 67 Figure 37: Geographic locations of customers of Small and medium businesses 69 Figure 38: When will investment be recovered?

10 70viAUSTRALIAN Small Business KEY Statistics AND Analysis n CONTENTSTABLEST able 1: Location of start-ups 6 Table 2: Per cent of nascent and young firms using different sources of funding 14 Table 3: Industry value added by sector and Business size, 2010 11 22 Table 4: Employment by sector and Business size, at end June 2011 24 Table 5: Business numbers by industry sector, as at June 2011 30 Table 6: Percentage of foreign ownership, by employment size, as at 30 June 2011 31 Table 7: Collaborative arrangements, by employment size, 2010 11 32 Table 8: Employee working arrangements, by employment size, 2010 11 32 Table 9: Geographic markets in which businesses sold goods or services, by employment size 33 Table 10: Business performance asses


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