Posted on: Monday June 04th, 2018

Author: Kilimanjaro Consulting

Large Business is Beneficial to the Economy

Small businesses make up the majority of Australian business (2.17 million enterprises operate as sole traders) – MYOB Enterprise Insights Report 2017. They are regarded as the cornerstone of the Australian economy. However, although less than 1% of Australian businesses have over 200 staff, these larger businesses make a significant impact on the economy. MYOB has recognized that the mid-market and larger businesses are the backbone for the future of the Australian economy. MYOB aims to bring the mid-market into the spotlight and is dedicated to supporting their success.

MYOB Enterprise Report

The MYOB Enterprise Report includes interviews with 276 bigger businesses in Australia, ranging from mid-sized (under 20 employees) to larger scaled enterprises. The report delves into business conditions, the likelihood of growth, the biggest business pressures such as finding the right talent for your company,  as well as future trends and developments in the Australian economy. The reports conclude that it is vital to recognize the importance of the mid-market and their beneficial impact on the entire economy.

MYOB for Bigger Businesses

MYOB is proud to provide tailored solutions to help businesses shape their future. With systems that provide genuine insights, and precise reporting, MYOB has small, medium and growing businesses covered. Find out more here about how MYOB products can turn opportunities into profits, and why MYOB software is not only for small companies.

About the survey

The MYOB Enterprise Report interviewed 276 bigger businesses from across the country in the latter half of 2017. The businesses ranged in size from mid-sized operations of under 20 employees to large-scale enterprises. 30% of the respondents employ more than 50 people and 3% have a staff of over 1000. They represent a wide range of sectors, from manufacturing (23%) and construction (8%) to professional services (8%), healthcare (7%) and agribusiness (3%). Over a third of the respondents report an annual turnover of less than $10 million, while 6% reported earnings of over $100 million. While a third are based in New South Wales, reflecting the majority of bigger businesses in the country’s most populous state, they are spread across the country – from Northern Territory to Western Australia and Tasmania.