Xero Small Business Insights has been created with a simple but crucial goal: to help small businesses succeed. Australia is a nation built on small businesses, and their survival and growth are essential to a strong economy. We think government, large enterprises, and the public can best contribute to that goal when they have timely, accurate data on the sector.
- How well does this data represent small business conditions?
We believe the data reflects what many, but not all, small businesses’ experience. There are roughly 2.1 million small businesses across Australia, based on ABS figures. We’re in a unique position with over 500,000 Australian subscribers on Xero, most of whom are small businesses. We hope their experiences will help inform larger questions such as how long it takes for small businesses to get paid or how and when a business hires.
- How is this different to ABS data on small businesses?
Xero Small Business Insights differs from ABS data in both frequency and focus. We focus on several different small-businesses measures monthly, while the ABS examines small businesses chiefly in a yearly count of entries and exits. Our insights complement ABS statistics to help provide a richer and more comprehensive picture.
- What is the goal of Xero’s Small Business Insights?
Our goal is to empower small businesses. They employ nearly half of the Australian workforce and generate a fifth of GDP, based on ABS figures. It’s our hope that with Xero data in hand, government, large enterprises and small businesses themselves can make more informed decisions that benefit small businesses and the broader economy.
- How is your data collected?
We have rigorous controls in place to ensure our customers’ data is anonymised and aggregated before we analyse it for Xero Small Business Insights. Our customers entrust us with sensitive data, and we take that duty seriously. Their privacy is our foremost concern.
- How can I get more information?
If you have questions about small business conditions that aren’t answered here, please contact us.