Small businesses vital to jobs and local economies

The latest data from the Australian Bureau of Statistics shows that for the 2022-23 financial year, the number of people employed by the small business sector increased by almost 90,000 from the previous financial year, reaching a total of 1.8 million.

The latest data is another reminder of the importance of our small businesses to local communities and the economy.

The amount paid in wages to employees and contribution to sales and service income also increased in 2022-23 compared to 2021-22. The amount paid in wages grew by 13.5 per cent to $75.9 billion and sales and service income grew by 14.7 per cent to $535.6 billion.

Data for the 2022-23 financial year is the latest available with 2023-24 figures expected to be available next year.

For more information: https://www.smallbusiness.nsw.gov.au/about-nsw-small-businesses