‘Have a go’ Australians defy COVID-19, set up businesses

As identified by Brendan Rynne, 800,000 businesses did not initially employ other people – in essence, individuals ‘having a crack’ at developing a new product or service, working in the gig economy, or innovating.

The latest Australian Bureau of Statistics (ABS) data on business entry and exits reaffirms the economic resilience of the Australian business landscape and the ‘have-a-go’ nature of our population. Over the last two years, the net number of businesses operating in Australia rose by around 12.5 percent, or nearly 300,000 businesses – with a total of nearly 1.1 million new businesses starting during the height of the pandemic. Nearly 800,000 existing businesses ceased trading during the same...

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Authors: Brendan Rynne

Published Date: 26 August 2022