WA outperforming other States in growth rate of small business

28/8/94

Western Australia is outperforming other states in the growth rate of small business.

Commerce and Trade Minister Hendy Cowan said today a new report released by the Small Business Development Corporation (SBDC) revealed that small business in Australia grew at an average annual growth rate of 3.6 per cent during the period 1984-93 with WA performing well above the average at 4.6 per cent - the highest of any State.

Mr Cowan said that in the same period the total number of small businesses in WA rose from 51,700 to 75,700.

These figures, contained in the 1994 Small Business in Western Australia Report, highlighted the significant contribution of small business to the WA economy.

Small businesses comprised 96.7 per cent of all private sector enterprises operating in the State (excluding agriculture).

"By virtue of their predominance in the commercial sector, small firms are also major employers in WA," Mr Cowan said.

"Small businesses in this State provide employment for more than 250,000 people and this year we have seen an increase of some five per cent on last year."

Mr Cowan said the signs were also positive for the future.

"The size of the small business sector is increasing, we are seeing greater participation by women and there is every indication that this growth will continue in the short to medium term," he said.

The 1994 Small Business in Western Australia Report offers the most recent statistics, highlights the latest findings of academic and government research and contains feature articles on topical issues affecting small business.

Copies can be purchased at a cost of $20 from the SBDC at 553 Hay Street, Perth, or by phoning 220-0235

Media contact: Peter Jackson 222 9595