Small Business Failures Continue to Rise (in Australia)

"Over 96% of businesses in Australia are small business. Every Australian owns a small business, works in a small business, or knows someone who does.


The success of small business is vital; not just to Australia’s economy, but to our social fabric.


Latest reports by Dun & Bradstreet highlight 'a 48% increase in the number of small businesses going bankrupt over the last 12 months, while small business start-ups fell by 95 per cent over the same period.'


According to Dun & Bradstreet CEO, Christine Christian, Australian business failures have trended steadily upwards since 2008, growing over 30 per cent in the last three years.


Director of New Staff Solutions, Peta Simpson, said 'This is exactly what we’re seeing here on the Sunshine Coast, across the entire region. Staff are being let go and businesses are folding. There are some businesses who’d like to employ staff, but the future is uncertain so they’re holding off. The traditional cycle of micro businesses entering the market, growing and becoming larger businesses, in the main, is just not happening.


People are worried about rising costs of living. They’re worried about the carbon tax. Changing workplace health and safety and industrial relations legislation is a big impost on business.  Increased superannuation is another slug on business. Tightening credit and the costs of compliance also take their impact.'


Ms Simpson said 'This is costing us jobs, and it’s costing us socially. A small business owner said to me just last week "there’s no joy in owning a business anymore". The social cost is yet to be measured. Families are being torn apart, stress and depression is on the rise. When we see a 48% increase in bankruptcy, and 95% fewer entering the market, something must be done.'


'Dun & Bradstreet’s recent Global Business Failures Report revealed that Australian businesses continue to present a high insolvency risk when compared with the rest of the world. The report indicated that with its steady increase in bankruptcies, Australia is now being classified in the same risk category as a number of countries being impacted by the euro-zone debt crisis, such as Italy, Portugal, Spain and the United Kingdom.' "


Source: http://dnb.com.au/Header/News/Small_business_failures_up_48_per_cent/indexdl_8144.aspx


http://www.mysunshinecoast.com.au/articles/article-display/small-business-failures-continue-to-rise,25480


(My note : Can a country have too many small businesses?  Think "global competition.")


thetan3n1project@gmail.com


tags:  God the Father Jesus Christ the Son Holy Ghost Holy Spirit christian christianity Holy Bible old testament new testament free will satan the devil angels sin redemption forgiveness heaven hell lake of fire globalization multinational corporations global trade small business one world government wealth treasures control power politics religion babylon the great the global money system