There were 701,061 small businesses in Victoria on 30 June 2023, representing 28% of all Australian small businesses (compared to 25% of the population that lives in Victoria1). This is a decrease of 9,389 small businesses or 1.3% from the previous financial year.
1 Australian Bureau of Statistics, Regional Population, 2021-22, Accessed 15 January 2024
Table 1: Small business in Victoria, 30 June 2023
Source: Based on Australian Bureau of Statistics, customised data, 2023.
Table 2: Businesses in Victoria by size, 30 June 2023
* Includes businesses where information is only available at the state/territory level.
1 This includes a small number of businesses which have income tax withholding roles for purposes other than withholding amounts from wages and salaries (and as such have zero employment).
2Calculated by ASBFEO based on the ABS definition of small business of 0-19 employees.
Source: Based on Australian Bureau of Statistics, customised data, 2023.
Changes in small business numbers for Victoria
Chart 1: Annual change in the number of small businesses in Victoria
Greater Melbourne | Rest of Victoria | Victoria Total | |
---|---|---|---|
2019 | 4 | 2 | 4 |
2020 | 4 | 1 | 3 |
2021 | 4 | 4 | 4 |
2022 | 12 | 8 | 11 |
2023 | -2 | 0 | -1 |
Total includes a small number of businesses where information is only available at the state/territory level.
Source: Based on Australian Bureau of Statistics, customised data, 2023.
A fall in the number of small businesses in Greater Melbourne drove the overall decrease in small businesses in Victoria in the year to 30 June 2023. This followed significant increases in the previous year.
The number of small businesses decreased by 10,001 (2%) in Greater Melbourne.
The areas with the largest decrease in the number of small businesses were:
- Brimbank (decreased by 478 small businesses)
- Moreland - North (decreased by 405 small businesses)
- Darebin – North (decreased by 402 small businesses).
The areas with the largest percentage decrease from the previous year were:
- Moreland – North (decreased by 5%)
- Darebin – North (decreased by 5%)
- Maribyrnong (decreased by 4%).
The number of small businesses in the rest of Victoria increased by 396 (0.3%) over the year to 30 June 2023. The areas with the largest increase in the number of small businesses were:
- Geelong (increased by 515 small businesses)
- Ballarat (increased by 400 small businesses)
- Shepparton (increased by 332 small businesses).
The areas with the largest percentage increase from the previous year were:
- Shepparton (increased by 5%)
- Ballarat (increased by 4%)
- Surf Coast – Bellarine Peninsula (increased by 3%).