Medium-sized businesses are twice as innovation-active as small business and sole traders, according to the latest Australian Bureau of Statistics (ABS) annual Business Characteristics Survey.
The Turnbull Government’s cabinet reshuffle has landed Michael McCormack in the hot seat as the new dedicated Minister for Small Business.
The Australian Chamber Small Business March Quarter Survey reveals that Australia’s economy is in transition, an important issue for all parties as we head to a July 2 election.
Construction services comprise 77 percent of these small businesses, and small construction firms employ more than 500,000 Australians.
It is now easier for small businesses to access finance to export their products as the Federal Government has launched a new loan program.
“Our economic plan to ensure that we continue to successfully transition to the new economy of the 21st century depends upon small and medium businesses.”