8167.0 - Selected Characteristics of Australian Business, 2010-11
Quality Declaration
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ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 13/09/2012
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The proportion of businesses seeking finance increased with each successive employment size range, from 15% for businesses that employed 0-4 persons, to 37% of businesses that employed 200 or more persons. By industry, businesses in Mining were most likely to report having sought debt or equity finance (38%) followed by businesses in Agriculture, forestry and fishing (33%). Businesses in Arts and recreation services, Health care and social assistance and Financial and insurance services were the least likely to have sought debt or equity finance (all 13%). REASONS FOR SEEKING DEBT OR EQUITY FINANCE Businesses that sought debt or equity finance during 2010-11 were asked the reasons for seeking finance, regardless of whether the finance was obtained. Businesses were able to provide multiple responses.
For businesses that sought debt or equity finance, the most common reason for seeking finance was to maintain short term cash flow or liquidity (43%). The least common reason for seeking finance was to purchase additional assets not related to expansion (5%). The proportion of businesses that reported seeking finance to maintain short term cash flow or liquidity increased with each successive employment size range, with the exception of businesses with 200 or more persons employed. Businesses with 20-199 persons employed were the most likely to report seeking finance to maintain short term cash flow or liquidity (51%). Businesses that employed 5-19 persons were the most likely to report seeking debt or equity finance to ensure survival of the business (37%). Businesses with 200 or more persons employed were the most likely to report seeking finance to expand the business (45%). By industry, businesses in Manufacturing and Financial and insurance services were the most likely to report seeking finance to maintain short term cash flow or liquidity (both 58%), while businesses in Transport, postal and warehousing were the least likely (23%). Businesses in Mining were the most likely to seek finance to expand the business (40%), while businesses in Retail trade were the least likely (12%). GOVERNMENT FINANCIAL ASSISTANCE All businesses were asked whether they had received any government financial assistance (excluding tax deductions for normal business expenses) during the year ended 30 June 2011. Government organisations include federal, state/territory and local governments.
Overall, 15% of businesses reported that they received some form of Australian government assistance. Across the different types of financial assistance options, rebates were the most commonly reported type of assistance (7%). The proportion of businesses that received some form of government financial assistance increased with each successive employment size category. It should be noted that while the proportion of businesses that received financial assistance is lowest for businesses with 0-4 persons employed (9%), this equates to approximately 42,000 businesses, whereas 56% of businesses with 200 or more persons employed represents approximately 2,000 businesses. Rebates were the most common form of government assistance reported for three of the four employment size ranges, the exception being businesses with 200 or more persons employed, which were most likely to report receiving grants (23%). By industry, Agriculture, forestry and fishing had the highest proportion of businesses that received some form of government financial assistance (32%). Businesses in this industry were also the most likely to receive rebates (15%) and equal highest to receive subsidies (8%), along with businesses in Health care and social assistance. Businesses in Arts and recreation services were the most likely to report receiving grants (18%), while businesses in Health care and social assistance were the most likely to receive ongoing funding (9%) and subsidies (8%). Businesses in Mining were the most likely to report receiving tax concessions (7%). Innovation-active businesses were more likely to receive financial assistance from the government (20%), than non innovation-active businesses (12%). Document Selection These documents will be presented in a new window.
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