Our Small Business Commissioner, David Eaton welcomes a revealing new report into small business.
The latest report from the Bankwest Curtin Economics Centre, officially launched by the Minister for Small Business, the Hon. Paul Papalia CSC at the Hyatt Regency hotel Perth today, confirms the importance of the small business sector to the State’s economy, and our communities, in metropolitan and regional areas.
The report titled ‘The Engine Room for Growth? The role, performance and future prospects of small business in Western Australia’ reveals that directly, the small business sector contributes $39.7 billion to the WA economy, placing it second only to the mining industry in terms of value added contribution.
The WA small business sector employs over half a million people, representing 41 per cent of total employment. Small business has a wide reach across all industries and regions and is a major contributor to the State’s economy while supporting communities at the grassroots level.
This is the most comprehensive research into WA’s small business sector for many years and will be invaluable to private and public organisations planning for the future.
We congratulate Professor Alan Duncan, Director of the Bankwest Curtin Economics Centre and his team on undertaking this valuable research.
Read the full report.