A new infographic, Small Business Funding in Australia – A Visual Story, from Intuit QuickBooks Online breaks small business funding in Australia. Said infographic parses Aussie SMBs into three categories: Finding Funding, Financial Challenges, and the Market for Techies. Sounds about right, eh?
Some interesting findings do emerge from the infographic. Such as:
- 81 per cent of SMB founders are sure their business will endure the next five years
- As little as 5 per cent of startups use funds from bank loans (think of how different that is compared with a few decades ago)
- Venture capital is more scarce than one might think – just $10 million in early-stage funded in 2012
As you might know, SMBs are essential to the Aussie economy. Perhaps the best news in Intuit’s data is that 60 per cent of those SMBs who seek outside funding, receive the money.
The infographic follows on from this week’s launch of the Love Our Local Business campaign, which will provide fifteen $1,000 grants to Aussie SMBs and startups to help them realise their business goals.
For full details, mosey on over to Love Our Local Business.