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Big increase for small business

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March 16, 2018

THE push for a business incubator in Heathcote may have received a boost in newly released figures from the Australian Bureau of Statistics into the growth of small businesses in Victoria.

THE push for a business incubator in Heathcote may have received a boost in newly released figures from the Australian Bureau of Statistics into the growth of small businesses in Victoria.

More than 20,000 small businesses were created in the last year, in what was the fourth year of uninterrupted growth.

The figures from the Australian Bureau of Statistics bring the total number of Victorian small businesses to more than 576,000 as of June 2017, meaning small businesses make up approximately 98 per cent of the state’s total businesses.

The new figures also show the Victorian small business sector is growing at a rate of 3.6 per cent compared to the national average of 3.1 per cent.

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