Stats: The test of courage

Despite external and internal challenges, small business owners have a generally positive outlook

In its Small Business Bravery Index June 2019, insurance service provider BizCover surveyed its small business customers to fi nd out how they felt about their business performance for the rest of the year following the May federal election, and what they considered to be the biggest obstacles and constraints to their growth.

Of the 639 BizCover small business customers who took part in the survey, 29% were professionals, 23% worked in the service sector, 18% in trades and 11% each in allied health and retail industries. When it comes to gender representation, slightly more male small business owners (54%) answered the survey than female (46%). There was a higher representation of males in the professional and trade industries and females in the service and allied health sectors.

According to the report, Australia’s small business owners are “hardworking individuals who often do not clock off at 5pm, who are often working public holidays, who wear many different hats and who have had the courage and bravery to take the leap and turn their passion into their living”.

A SUNNY OUTLOOK

Across all states, small business owners seem generally positive about investing in growing their businesses in 2019. Forty-three per cent of survey respondents said now was good time to invest and only 28% felt differently. However, almost 33% were unsure of whether to invest in 2019.