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In terms of employment, in 1996-97 micro businesses in Australia employed approximately 1.6 million people, which is about 25 per cent of total employment. Between 1995-96 and 1996-97, micro business employment increased by only two per cent, which is significantly below the average for all small businesses of 4.7 per cent. Significantly, of those micro businesses classified as 'innovative', 33 per cent were increasing employment.
In terms of the survival rates of micro businesses, 54 per cent of micro businesses have been around for five years or more, with this proportion up markedly over the past couple of years. This is reinforced by ABS data which shows that 89 per cent of micro business owners/managers consider their business to be either highly or moderately successful.
Of those micro businesses increasing in size, a high proportion were expanding their range of goods and services, were classified as 'innovators' and had access to the Internet. Those micro businesses increasing in size were also likely to be less than five, or more than 20, years old. Interestingly, export status was not a good indicator of the growth potential of micro businesses.
Only 13 per cent of micro businesses had operators with management training.
Home-based businesses account for 66 per cent of micro businesses, many of which are non-employing, with the proprietor working less than full-time.