Small business worth more than half a trillion dollars to the Australian economy

The economic contribution of small business to the Australian economy has topped half a trillion dollars, according to a report released today by the Australian Small Business and Family Enterprise Ombudsman, Bruce Billson.

The value of small business to the economy surged by 15 per cent in 2021-22 to $506 billion and accounts for one-third of Australia’s GDP.

TRANSCRIPT: 2023-24 Federal Budget and small business

Australian Small Business and Family Enterprise Ombudsman Bruce Billson discusses the 2023-24 Federal Budget and small business with Selina Green on ABC Radio SA South East.

Selina Green 

Small businesses have been put in the winners category by the ABC's federal budget coverage. So what relief will those small business operators out there be getting from the immediate pressures facing them? Things like rising freight costs, rising energy bills, staff shortages, a global slowdown in the economy.