GLEN WAVERLEY, AUSTRALIA — Nearly two million new small businesses have opened across the country over the past five years, despite the ongoing global financial crisis, according to ITWire.com.
The article said that the number of small businesses in Australia has increased by 1.4 percent to 1.9 million since 2009.
The financial crisis has affected the businesses’ revenues, noted the article. Revenue gains fell from 20 percent in 2009 to 10 percent in 2014.
Read also: Report: The future of water in Australia
Cloud accounting software vendor MYOB CEO Tim Reed stated in the article that small businesses have shown resilience over the last five years, and they feel revenue will increase over the next five years.
Dissatisfaction with Australia’s Labor Government was also at a high until 2012 at 57 percent, reported the article. Some see the Coalition Government, which came to power last year, as having a friendlier agenda for business.
Small businesses have been interested in customer retention and acquisition strategies, as well as the number and variety of products offered, shared the article.
Click here to read the entire article.
