Business flourishing in Tasmania

26 February 2007

Figures released today by the Australian Bureau of Statistics show that 536 new businesses were registered in Tasmania in the last financial year – a growth of 1.5% compared with a national rise of 1.3%.

Tasmanian Treasurer Michael Aird said that the growth was an example of the underlying strength of the Tasmanian economy.

Data also shows that, since 2003, Tasmania has the highest survival rate of businesses in the nation with 68.7% still operating compared to the national figure of 65.0%.

New businesses set up in Tasmania since 2003 are also performing well, with 63.0% surviving compared to a national average of 58.3%.

The February Sensis Business Index showed that business confidence is high in Tasmania. Small and medium sized businesses recorded growth in sales, workforce size, wages, prices, profitability and capital expenditure in the three months to February 2007. Seventy percent of those surveyed were positive about their prospects for the coming year.

See the Business Opportunities page for related information.