25 October 2017
Media Release - #2017136, 2017

Small business is thriving and confidence growing latest data shows

SMALL BUSINESS continues to thrive which has been confirmed by Sensis Business Index September quarter results released today and warmly welcomed by Minister for Small Business Michael McCormack.

Key findings indicate the overall assessment of the economy has become more positive with small business confidence increasing to equal the highest level recorded in many years.

"The results of this survey are really pleasing and I know from meeting with many small businesses, from bookkeepers or bakers to cleaners or carpenters they are feeling confident about their future because the policy settings this Government is implementing are working," Mr McCormack said.

"Our commitment to support and continually back the 3.2 million small businesses in Australia, by creating the framework for them to flourish, is helping build the confidence needed to get on with the job, grow our economy and create local jobs.

"State by State and sector by sector, more than 840 new small businesses are created each day thanks to the confidence provided by the Government's commitment to creating a small business-friendly economy and Australia's culture of having a go."

Mr McCormack said the survey results indicated confidence was particularly strong in the sectors of hospitality, property and business services along with cultural, recreational and personal services. It also showed small business owners have confidence in their own specific business's strengths.

"We are fostering a culture of innovation, investment and opportunity to create an environment where people want to take a risk and back themselves to start and grow their own small business," Mr McCormack said.

"Almost 300,000 small businesses have taken advantage of our instant asset write-off, allowing businesses to immediately deduct investment in capital equipment up to $20,000 resulting in increased cash flow to grow the business while creating economy-wide confidence and local jobs.

"I know as a former small business owner, the Turnbull Government's policies are the drivers needed for small business and jobs growth, and I am proud to be part of a Government with a vision to back small business and local communities."

You can find out more about the Government's small business measures at the small business webpage.