Posts Tagged "Australian businesses"

The Stats on Australian Businesses

Posted by on Mar 16, 2016 in Blog

The Stats on Australian Businesses

Australian businesses are booming at present and for the second year in a row, the numbers of actively trading businesses have increased. The Australian Bureau of Statistics (ABS) confirmed that while the actual numbers showed a drop in terms of new business registrations, fewer businesses closed across the board. Statistics from the ABS showed 21,000 more businesses trading in the 2014-2015 period, a 1% increase from the previous financial year. This is actually great news for Australian businesses and confirms they are managing to stave off issues such as cash flow or bankruptcy and continuing to trade for the long term. Deciding to close down a business, even one with huge financial issues, is a huge business decision. The reason to close down a business is not always monetary either. Sometimes the decision stems from a poor business plan, bad health, lack of management experience , unforeseen events or lack of capital. Only one state showed a drop in business numbers during the 2014-2105 period and that was Tasmania, mainly influenced by businesses in the agricultural sector. Nationally, agricultural businesses have fallen a huge 10% from 2011 affecting other states’ overall results. Victoria was the state with the highest...

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