Australians are starting new businesses in record numbers, with more than 160,000 added to the economy in 12 months.
The seven percent jump over the course of a year represents a record lift since the data was first recorded 19 years ago, CommSec economist Craig James said.
The surge was led by a 10 percent increase in non-employing businesses, with James suggesting more Australians were “following their dreams” and setting up their own businesses in the living-with-COVID era.
“No wonder that larger businesses can’t find staff – foreign borders have been closed, and people have left existing companies to set up their own business,” he said….