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2015-01-14 00:00:00 Staff and Employees English As these small business statistics confirm, SMBs are a significant source of employment in Australia. https://dprotksf3n5y8.cloudfront.net/wp-content/uploads/2017/01/09000848/boss.jpg Business statistics: SMBs as employers - QuickBooks

Business statistics: SMBs as employers

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Small businesses are a significant source of employment in Australia.

The terms “independent contractor”, “self-employed”, “micro / small business”, “consultant” and “freelancer” are highly interchangeable. However, they all indicate that you run your own small business!

17.2 per cent of the whole Australian workforce is self-employed, and 28 per cent of the private-sector workforce is self-employed.

So, what does a typical small business owner look like? According to the Australian Bureau of Statistics:

– 70 per cent are men.
– 50 per cent are aged between 35 and 54 years, and 28 per cent are over the age of 55.
– 54 per cent work more than 40 hours a week.
– 86 per cent have a say over their start / finish times.
– 48 per cent work weekends.

Of the more than one million independent contractors:

– 73 per cent have more than one contract at any one time.
– 79 per cent do not have employees, but
– 65 per cent are able to subcontract their work.

If you’re planning on taking on subcontractors or staff, we’ve put together some advice on hiring your first employee.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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