Queensland Small Business Growth Up 2.7% Year To 30 June 2018

Queensland Small Business Growth Up 2.7% Year To 30 June 2018

Queensland Minister for Employment and Small Business Shannon Fentiman

Small Businesses Continue To Grow In Queensland

Victor P Taffa

Queensland’s small business sector is continuing to thrive after recording another year of growth according to the latest Australian Bureau of Statistics (ABS) data.

Minister for Employment and Small Business Shannon Fentiman welcomed the 11,500 new businesses which joined the growing ranks of Queensland small businesses in the 2017-18 financial year.

“This is a fantastic result and the Palaszczuk Government will continue to assist our small businesses to keep growing and employ more Queenslanders.” Minister Fentiman said.

“Annual report shows Queensland is now home to more than 438,000 small businesses and has recorded its fifth year of trend growth.”

“This is a 2.7 % growth in the 12 months to 30 June 2018 and small businesses now comprise 97.7 % of all businesses across the state.”

“This means more and more businesses in Queensland are small businesses.” Minister Fentiman said.

“Small businesses in South East Queensland jumped 3.5 % and regional businesses increased slightly by 0.7 %.”

“Since the launch of the Advancing Small Business Queensland Strategy in 2016 the Palaszczuk Government has helped kick start thousands of new businesses and support existing businesses through our grants and mentoring programs.”

“Construction continues as the industry with the smallest businesses now accounting for more than 75,000 firms.” Minister Fentiman said.

“Transport, Postal and Warehousing sector showed the highest growth for the second consecutive year increasing by more than 14 % from 27,400 to more than 31,300.”

“There was also strong growth in the administrative and support services area which experienced a 6 % increase.

“This latest data highlights the significant role small business plays in our State’s economy.” Minister Fentiman said.

“Queensland’s small businesses contribute around $113 Billion to our economy and employ around 44 % of the private sector workforce.”

“We want to see this sector continuing to go from strength to strength.” Minister Fentiman said.

Queensland Small Business Champion Maree Adshead is excited by the increased growth in business numbers.

“This means roughly 11,500 more Queenslanders have decided to have a go, to back themselves and follow their dream.” Ms. Adshead said.

“Advancing Small Business Queensland Strategy is gearing up for an even bigger Queensland Small Business Week this year when it kicks off on 27 May, with applications for grants to host an event or activity closing on Sunday 3 March.”

“I hope all of Queensland’s small businesses get involved in Small Business Week and make the most of this wonderful opportunity to celebrate, access support, learn something new, and reflect on everything that’s great about being in small business in Queensland.”

“Government also offers a range of grants, mentoring and other support to help Queensland small businesses get started, grow and employ more people.”

Key Data:

  • Latest ABS release of counts of Australian businesses show small business is growing in Queensland,
  • Number of small businesses in Queensland is more than 438,000,
  • This is a 2.7 % increase in the 12 months to 30 June 2018,
  • Small business now represents more than 97.7 % of all businesses in Queensland up from 97.5 %,
  • Transport, Postal and Warehousing sector showed the biggest growth of 14.3 %.

Top 5 small business sectors are:

  • Construction,
  • Rental, Hiring and Real Estate Services,
  • Professional, Scientific and Technical Services,
  • Agriculture, Forestry and Fishing,
  • Financial and Insurance Services.