Canberra Business Chamber is encouraging local residents to celebrate the contribution of our small business sector, as part of World Small Business Day.
Canberra small firms now represent 99% of all our businesses.
“The United Nations General Assembly has established 27th June each year as the time to recognise and celebrate the important role of micro-, small and medium-sized Enterprises (SMEs),” Chamber CEO Dr Michael Schaper said today.
“As the UN has noted, SMEs are a key part of the global economy. In fact, they are the backbone of the business community in almost every country.
“Internationally, SMEs make up over 90% of all firms and account on average for 60-70% of total employment and 50% of GDP.
“But their contribution in the ACT is even more significant.
“In Canberra today, 99% of all our businesses are SMEs. The last count of businesses by the Australian Bureau of Statistics revealed that at the end of the last financial year there were:
- 16,789 micro-businesses (59% of all firms) – self-employed businesses, no other staff
- 11,007 small firms (38% of the total) – employ between 1-19 staff in addition to the owner
- 750 medium-sized enterprises (3% of all firms) – employ between 20-199 staff
- 27 large firms (less than 0.1% of all firms) – employ 200+ staff
“Compared to most parts of the world, we are very much a small business-based economy,” Dr Schaper said.
“It doesn’t matter if it’s your vet, dentist, hairdresser, or the local restaurant. The online store. Your accountant. The app provider for your mobile phone. All of these are important small businesses.”
“They provide many of the jobs, much of the wealth, and important economic opportunities for Canberrans.
“It’s time for us to celebrate the contributions of these 99% quiet achievers.”