In Australia, business is conducted in a transparent, well regulated and politically stable environment. The 2013 World Bank Doing Business report judged Australia to be amongst the top 10 most straightforward and affordable countries in which to start up a business and in terms of overall ease of doing business. Foreign investment is welcomed, with all levels of government keen to promote business, economic development and employment growth. Approximately 2 million businesses operate in Australia.
Businesses may operate within one of these categories:
l Sole trader; Partnership; Company; Cooperative; Government Body or Clubs, societies and associations.
Small Businesses make up around 95% of Australian Business. A small business is defined as a business employing less than 20 people. Categories of small businesses include:
l non-employing businesses - sole proprietorships and partnerships without employees;
l micro businesses - businesses employing less than 5 people, including non-employing businesses;
l other small businesses - businesses employing 5 or more people, but less than 20 people;
Australia’s largest businesses continue to be in the mining, agriculture and media areas, but medium and small companies constitute an extraordinary variety of products and services and provide a large percentage of national employment.