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Data reveals fewer business busts, small business driving economy

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Finding from the latest Bibby Barometer survey by Bibby Financial Services - Flexible Cash Flow Solutions are backed by a new report from the Australian Bureau of Statistics (ABS) that reveals small businesses were the main driver behind the number of businesses being created in 2011-12.

The ABS Publication, Counts of Australian Businesses, including Entries and Exits, released yesterday reveals that there were 2,141,280 actively trading businesses in Australia as of June 2012, a rise of 8,868 businesses or 0.4% from a year earlier. A vast majority (96%) of Australian businesses in June 2012 were small businesses.

This positive report from the ABS backs findings from the latest Bibby Barometer survey, which reveals that business optimism has returned to levels not seen in almost two years. 

The latest Bibby Barometer found 65% of small businesses were more optimistic about sales growth in the coming 12 months, up from 55% in the previous survey. Cash flow however, continues to be a leading constraint despite the recovery in business optimism, with 48% of small businesses experiencing problems.

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