Young business owners will lead recovery: survey
Young Australian business owners are the key to the country’s economic recovery, according to the latest MYOB Business Monitor.
The MYOB Business Monitor is a nationwide survey, representing the voice of Australian business owners through a sample of 1165 proprietors and directors of sole trading, micro, small and medium sized businesses from across all industry groups.
According to the survey, business owners aged under 40 – who represent about 30 percent of trading businesses in Australia – are the most optimistic about an economic recovery (63 percent). This is in part due to their own level of performance, which the survey reveals to be the highest revenue growth over the last 12 months (29 percent reported an increase in revenue); and the greatest level of confidence in improving business prospects (65 percent expect improvements in the next year).
MYOB CEO Tim Reed says it’s extremely heartening to see young Australian business people performing so well.
“After facing one of the most significant economic crises in recent times, it’s fantastic to see young Australian business owners emerging as a force in business and helping lead the way to economic recovery,” he said.
The survey also revealed a general improvement in overall business confidence, with over half (58 percent) of Australia’s business owners expecting the economy to improve within the next 12 months, compared to 45 percent reported in the July 2009 survey.
Young Australian business owners are the key to the country’s economic recovery, according to the latest MYOB Business Monitor.
The MYOB Business Monitor is a nationwide survey, representing the voice of Australian business owners through a sample of 1165 proprietors and directors of sole trading, micro, small and medium sized businesses from across all industry groups.
According to the survey, business owners aged under 40 – who represent about 30 percent of trading businesses in Australia – are the most optimistic about an economic recovery (63 percent). This is in part due to their own level of performance, with 29 percent reporting an increase in revenue, and 65 percent expecting improvements in business prospects for the year ahead.
MYOB CEO Tim Reed says it’s extremely heartening to see young Australian business people performing so well.
“After facing one of the most significant economic crises in recent times, it’s fantastic to see young Australian business owners emerging as a force in business and helping lead the way to economic recovery,” he said.
The survey also revealed a general improvement in overall business confidence, with over half (58 percent) of Australia’s business owners expecting the economy to improve within the next 12 months, compared to 45 percent reported in the July 2009 survey.
People who read this, also liked:
Economy recovering faster than expected
SMEs report improved business conditions
