Understanding Micro Business, 2008: Small business statistics 

Australia’s largest micro business survey: Key findings

Understanding Micro Business, 2008 is Australia’s largest solo & micro business survey. It was conducted by Flying Solo and published on Tuesday 20 May, 2008.

If you run a micro business, the most relevant results and small business statistics for you are compiled in this special community edition of the report (PDF, 2.5MB)

According to the Australian Bureau of Statistics, micro businesses account for over 70% of all Australian small businesses.

The survey was undertaken over two weeks in March 2008. There were 1,770 participants, all members of the Flying Solo www.flyingsolo.com.au community. This figure represents approximately 12.6% of the Flying Solo email database.

Quick statistics

• The gender split was 58% female, 42% male 
• 47% were aged 40-54 with 36% aged between 25-39 years
• 46% reported a household income of over $100,000 with 22% of those exceeding $150,000 
• 69% run their business from a home office and two thirds operate on their own (no staff) 
• 95% live in Australia with NSW, Victoria and Queensland representing the highest proportions

Key findings and small business statistics

As well as comprehensive statistics on demographics, behaviours, business challenges, income and general business information, we also unearthed some fascinating and surprising findings.

MISSING OPPORTUNITIES ONLINE: Despite its importance for finding work, only 53% of participants had a business website they were happy with and 31% didn’t have a website at all.

Download the full press release for more stats (PDF)

CASUAL NETWORKERS: The image of a business owner busily networking and handing out business cards does not match reality, with most shunning formal and regular networking events.

Download the full press release for more stats (PDF)

ONLINE CONNECTIONS: Despite 46% of soloists using social networking sites Facebook, LinkedIn and/or MySpace, it seems these are more for socialising than finding clients.

Download the full press release for more stats (PDF)

FIVE HOME-BASED BUSINESS MYTHS: Despite some misconceptions, micro and home-based business owners are prosperous, happy, hardworking, highly professional and running stable enterprises.

Download the full press release for more stats (PDF)

HAPPINESS & MONEY: Most ‘little’ businesses are nice little earners, with two thirds reporting a household income of $100,000 plus. What’s more eight out of ten love their work. But is happiness related to earnings?

Download the full press release for more stats (PDF)

BIGGEST CHALLENGES: Satisfied they may be, yet micros face real business challenges, the biggest of which are finding clients and wearing too many hats. We list the top ten challenges of working alone.

Download the full press release for more stats (PDF)

GROWTH: Everyone with their own business wants to grow bigger, right? Wrong. Over 50% are tiny by choice and have no plans to grow.

Download the full press release for more stats (PDF)

FINDING WORK: You’d think the Internet was a central part of finding new customers, yet 85% say word of mouth is still the best method. Finding work via their website was not even second best.

Download the full press release for more stats (PDF)

For government or private organisations interested in studying the full 43-page report for analysis of the small business statistics, we are releasing copies in PDF format. Click here to see the table of contents, methodology and order form.

If you’d like to talk to any of us, simply contact us and we’ll respond pronto.