21 May Business Start-ups: The Decline Accelerates

The fall in Australian Business Number (ABN) registrations is accelerating.  January and February’s figures were similar at around 10 percent less registrations compared to the last three-year average for the same months. However, March recorded 25 percent fewer and April saw a massive 43 percent reduction.

Our previous blog article posted on 7 April 2020 reported that between the start of January and end of March this year, the number of new ABN registrations that were also registered for GST in Australia had reduced by around 10,000 compared to the average for the last three years.

A similar analysis for January through to the end of April has been undertaken using Australian Business Register (ABR) data and found that over the first four months of the year this trend has continued with the number of registrations having dropped by over 13,700 (22 percent) when compared to the historic 3-year average for the same period.

All States and Territories have continued to show a substantial fall in new business registrations over the four-month period with South Australia suffering the biggest drop at 28 percent. This is followed closely by Western Australia at 26 percent. It is Tasmania that is holding up best with a reduction of 9 percent.

REMPLAN will continue to monitor these new registration trends and will be updating these monthly.  If you would like to receive these updates, please click here.

Government clients who have access to ABR non-public data can use the Business Module in their REMPLAN Economy software to undertake the same analysis of their own local areas at a higher level of detail including the identification of those industry sectors that are being most impacted.

If you need help with this, the REMPLAN team are always available to assist.  Call 1300 737 443.

www.remplan.com.au