Posts tagged "Australian small business owners"

The number of millennial and gen Z small business owners is on the rise according to research released by the Commonwealth Bank of Australia.

The number of female small business owners is outstripping men three to one, but the social perception of women in business has a long way to go.

Alarmingly, only 8% of business owners in Australia are now under the age of 30 according to an ASBFEO report.

Whether you're a small business that’s starting up or scaling up, there’s no denying that founders need a supportive community, and strong networks, to navigate the ups and downs of entrepreneurship. Especially if they’re going to make it past the four year mark, by which 48% of small businesses have gone bust. 

Some business owners are even dipping into their personal savings to mitigate rising costs and make a profit, the report states.

High inflation, uncertainty about the future, slowing economic growth, and staff wellbeing concerns are high on the list of challenges facing the nation’s small business owners in 2023.

This year saw a decline in the trust of news outlets, social media and ‘people like us’. So what does this mean for the online presence of small businesses?

In a bombshell announcement, telecom giant Telstra yesterday revealed it would be axing over 8,000 jobs and reducing its number of plans fro…