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Perth, Australia, is a fantastic place to launch a small business. 3% of businesses in Perth are NOT small businesses! How crazy is that?! Perth is home to a tone of different industries. Construction and mining operations are the powerhouse industries in Perth. You'll learn a bucket load from this article about Perth business facts.
Suppose you're considering starting a business in Perth. It would help if you chatted with an exponential small business coach Perth that can help you explode sales. and ensure success.
Now let's get into the stats.
Perth city is home to 2.6 million Australians. The city is located on the western side of Australia in the state aptly named "Western Australia" (it would appear the individuals naming the states had no creativity).
The GDP of the city was $46 billion in 2019. Perth's local council and government have stepped up their initiatives to help business owners bounce back from the Covid-19 pandemic. Western Australia had extreme measures that had the state and the city on hard lockdowns for long periods. Many businesses were forced to stand down staff, and many owners didn't know how they'd bounce back. Perth's CBD vacancy rate was at 20% in 2021. The highest in Australia at the time. The hotel industry reported a loss of booking revenue of 33%.
While the city did have the highest vacancy rates for offices in Australia, it's not all bad news. We can not confirm this, but seeing how19% of Perth residents own pools, they probably enjoyed some time off during the pandemic.
Gathering information about businesses in Perth, Australia, took a lot of work from our team. We were blown away by how diverse the business industries are in this beautiful city. In fact, the Perth local government has placed particular importance on business diversity moving forward. The state of Western Australia is known as a mining state. But, many people don't know that Perth produces 16,988 crude oil. Perth has a sizeable oil-producing industry, the largest in Australia. Many Australians relocate to Western Australia to work in businesses involved in mining or oil production.
81,000 backpackers were hard at work in Perth helping out business owners in 2020. Backpackers tend to help out small businesses such as pubs and restaurants. 65% of small businesses in Perth only have themselves working for the business. 32% of small businesses employ at least more than one person, with no more than 19 people employed. 2.5% of businesses in Perth are classified as small-medium enterprise and not as a small business. The State of Western Australia has a total off 227,000 small businesses. 77% of these companies offer their services in the city.
After a collection of industries, Construction makes up 17% of all small businesses in WA. They were followed by 12% scientific/ research and 11% real estate. There is no doubting that it's the work of small business owners that generates significant economic growth for the nation. Small business contributed$54 billion dollars to the WE economy in 2020, and Perth's economic development seem strong. Economic activity is expected to bounce back after the pandemic is over. WA small businesses employed over 460,000 people.
The city of local government is focused on the future Perth community and the services the city has to offer its population. The government has been at work to create new initiatives to drive economic growth. There is$13 billion invested by the government and private corporations for developments in the CBD. The government is investing $1.86 billion into the rail link to the Perth airport. Advertisement for new positions is up by almost 20%. The WA government is confident that this economic growth and development level will create work and opportunities for more people and businesses. The employment statistic has the status of unemployed at 5.70% for the city of Perth. The Perth business facts identified that there seems like a positive focus from the local government to back all business owners.
The SBDCsmall business is a business development team established by the WA government. This is a great starting location if you're considering opening a business of your own. Suppose you're an already established business. The city places a heap of free information on the site about how you can claim grants from the government, along with staff management, business opportunities, and marketing tips. Just be warned that this information is only rudimentary, and if you want professional information about marketing or business management, you will need to contact a Perth business coach.
The city on the furthest westerly coast of Australia appears to be a great place to own a business. Suppose the government's methods towards COVID didn't impact your business. The city seems to enable a perfect work life balance, because the economic outlook appears strong. The government is hard at work trying to boost business activities and update facilities for the people of the superb WA city. If these Perth business facts still left you unsure about starting a business, you should consider working with a skilled Perth business coach or consultant to help you ensure business success.