Alarming data exposes the decline of small and medium Aussie businesses

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Alarming data exposes the decline of small and medium Aussie businesses
Paul Dobson
  • 📰 SkyNewsAust
  • ⏱ Reading Time:
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  • 3 min. at publisher
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  • Publisher: 78%

I’ve always been passionate about small businesses, long before I joined MYOB.

Small Australian businesses 'in need of support', MYOB CEO Paul Robson says after report found the sector is declining against GDP

For May the sector received a -2.0 SME Performance Score against GDP , outlining the waning economic performance of small businesses in comparison to the national average. This trend raises a crucial question: would you encourage the next generation to start a small business? They are also incubators of innovation and provide new solutions to emerging problems.

ABS data released in August 2024 found that 14 per cent of Australian businesses had failed in the preceding 12 months.At MYOB we’re uniquely positioned to observe the commonalities of small businesses that survive unexpected challenges and economic uncertainty.

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Paul Dobson

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