Small Businesses in Queensland
With a total population of almost 5 million in Greater Brisbane, Gold Coast and Sunshine Coast, and with a combined total of over 300,000 businesses, Queensland cities have become a fast-growing metropolitan hub for small businesses[i]
One in 5 Australians live in Queensland. The state population is growing faster than the national average, and Brisbane is also quickly growing to become a key business hub for Australia.
The Greater Brisbane area is home to more than half (53%) of all Queensland businesses. More than 97% of businesses statewide are considered small businesses, meaning they have less than 20 employees. These small businesses employ almost half (44%) of all private sector workers.
The top business industries in Queensland include construction; professional, scientific and technical services; rental, hiring and real estate services; and agriculture, forestry and fishing.
Queensland Small Business Stats:
The number of businesses in Greater Brisbane alone (211,092) makes up for 46% of total businesses in Queensland (as of 30 June 2019).
The number of businesses combined in these 3 major cities with 20 employees or more only makes up for about 3% of the total number of businesses (as of 30 June 2019).
The industries with the most businesses in Greater Brisbane, Sunshine Coast and Gold Coast are Construction, Rental & Real Estate Services, and Professional & Technical Services (as of 30 June 2019).
“Very quick reply and very efficient. They were specific about the required documents and I didn’t have to go back and forth procuring other documents. There’s no hassle and they didn’t make you feel as if you had to beg for the loan. Highly recommended.”
Avelino Medical Services
Cotton Tree, Queensland
Understanding your business’ financial metrics, is critical to running a successful business. These metrics are crucial to knowing whether or not your business is profitable and will also prevent you from waking up one day to find out you’re on the slow march to insolvency and going out of business. There are a handful of metrics every business owner should be familiar with. Learn more about your business’ income, expenses, cash flow, accounts receivable, and accounts payable and what they all mean for your small business.
Research shows that found that only one in two (50%) small business owners have taken a holiday in the last six months. Over one in four (26%) have not had a break for at least four years. A small minority (6%) say they have never taken any time off from their business. It is vitally essential for SME owners to take a break from their business. It doesn’t need to be a massive break – just taking a long weekend once in a while can help owners recharge.
Almost every small to medium business owner knows cash flow can be challenging to say the least. Some of the most profitable small businesses still fail because a cash flow crisis has come out of the blue and they weren’t prepared for the fall out. Profit alone doesn’t safeguard a business for when clients don’t pay their invoices on time or unexpected expenses arise.
If you’re on the fence about whether a customer loyalty plan for your business is worth the hassle, there are a few solid reasons you should be implementing a plan ASAP. Regular repeat customers can help create a baseline of reliable income, spread word of mouth, and can save your small business money in the long term.
Queensland Small Business Loans with OnDeck
OnDeck has been a trusted lender for many small businesses in Queensland, helping them reach their business goals faster by providing fast and hassle-free lending.
If you are a Queensland based small business owner wanting to apply for an OnDeck small business loan, simply start an application online. It takes only 10 minutes and you’ll know whether or not you’ve been approved within hours.
If approved, you could receive funding in as fast as 1 business day.