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SELECTED CHARACTERISTICS OF AUSTRALIAN BUSINESS

This is the final release from the 2016-17 Business Characteristics Survey (BCS) and presents summary data for a selection of topics including:

- geographic markets in which businesses sold goods or services;
- business finance sought, reasons for seeking debt or equity finance;
- business innovation;
- changes to business performance and activity;
- barriers to innovative activity, skills used in undertaking core business activities, and;
- skills shortage or deficiency in undertaking core business activities.

• Overall, 16% of businesses sought debt or equity finance. Of these, 89% obtained finance.
  

• The most common type of debt finance sought by businesses was a new capital/finance lease or hire purchase agreement (36%), followed by new loan with a term of more than one year (35%).

• Businesses reported the main reason for seeking debt or equity finance was to maintain short term cash flow or liquidity (41%), followed by finance sought to replace other equipment or machinery (30%).

• Lack of access to additional funds was the most commonly reported barrier to the development or introduction of new or significantly improved goods, services, processes or methods (19%).

• Over half of innovation-active businesses reported a social media presence (59%), compared to less than a quarter of non-innovation active businesses (26%).
  
  

• 29% of non innovation-active businesses with 0 - 4 persons employed have a web presence, compared to 59% of innovation active businesses.

• The Mining industry had the greatest proportion of businesses that used any skills in undertaking its core business activities (86%). Some of these skills included: engineering (44%), business management (42%), project management (39%), environmental management (26%), and scientific and research skills (19%).

• The Mining industry had the highest proportion of any collaborative arrangements (22%).

• Over half (57%) of the businesses in the Mining industry offered flexible working hours as a working arrangement.

• The Agriculture, forestry and fishing industry recorded the lowest proportion of businesses reporting any skills shortages (18%).

• This industry recorded the highest proportions of businesses reporting the cost of inputs (25%) and environmental factors (26%) as factors which significantly hampered the business in its general business activities or performance.

• Just under a third of businesses in this industry reported seeking debt or equity finance (28%), the most common type of additional debt finance sought was an increase in amount of existing credit facilities or limits (34%). Businesses within this industry also reported the highest proportion of any businesses utilising banks (87%) as a source of debt finance.

• This industry recorded the lowest proportions of businesses reporting a web presence (14%), social media presence (13%), and receiving orders via the internet (17%).
  

• The Information media and telecommunications industry recorded the highest proportion of businesses facing barriers in the introduction of new or significantly improved innovations (47%) with just over a quarter of businesses within this industry reporting lack of access to additional funds (27%) as a barrier they faced.

• The Information media and telecommunications industry also recorded the lowest proportion of businesses listing banks (53%) as a source of debt or equity financing.

• This industry recorded the largest proportion of businesses which stated the reason for seeking debt finance was to introduce new or improved goods, services processes or methods (14%).

• Businesses within this industry recorded the highest proportions of businesses operating overseas (29%) and outside of state/territory but within Australia (58%).