Small Business growth across the Capricorn Coast and Rockhampton region
Posted on March 5th, 2024
The data is clear, business numbers across the Capricorn Coast and Rockhampton region are growing. As at 30 June 2023, there were 8,900 businesses registered in the region*, an increase of 241 businesses (2.8%) from the previous financial year and the third consecutive year of positive growth.
In comparison, there were 497,002 businesses registered in Queensland, an increase of 11,031 businesses (2.3%) from the previous year, a slower growth rate than our region.
Capricorn Enterprise CEO Mary Carroll said, “The Capricorn Coast and Rockhampton region continues to be an economic powerhouse with these business numbers demonstrating the increasing confidence in our region.”
Small businesses are considered to be those with less than 20 employees, and across Queensland, together they are collectively a major source of employment playing an important role in the strength of our local economy.
Queensland’s small business numbers have increased by 2.1% over the financial year, assisted by similar growth in our region (1.9%). The number of local businesses with no employees grew by 3.0%, while those with five to 19 employees grew by 5.9%, much faster growth rates than other business sizes and overall.
“Small to medium enterprises form the backbone of our local economy and it is great to see how local businesses are holding their own in line with state-wide trends,” said Mary. “While we do see lower proportions of emerging businesses with less than four employees, the region has higher proportions of mature businesses with more employees.”
Source: ABS, Counts of Australian Businesses, including Entries and Exits.
“The Capricorn Coast in particular has been demonstrating strong business growth for more than five years with higher proportions of non-employing and emerging businesses (60%), which would reflect the lifestyle choices people are making,” said Mary. “We know that the ability to work from home in this amazing location has offered many locals the chance to create their own home businesses or side hustles, including in some of the top industries in our region.”
The top five small business industries in Capricorn Coast and Rockhampton region are:
· Construction (19.0%)
· Agriculture, forestry and fishing (15.0%)
· Rental, hiring and real estate services (9.7%)
· Other services (including beauty and personal service, mechanical services) (8.8%)
· Professional, scientific and technical services (7.4%)
The top five small business industries across Queensland are:
· Construction (17.4%)
· Professional, scientific, and technical services (12.5%)
· Rental, hiring and real estate services (11.9%)
· Agriculture, forestry, and fishing (8.6%)
· Health care and social assistance (7.5%)
For more data and information about the Capricorn Coast and Rockhampton region, Capricorn Enterprise publishes an Economic Profile for the region and the local Council areas. The 2024 update is available at https://capricornenterprise.com.au/economic-development/regional-statistics/reports/
For more information about all things business in the Capricorn Coast and Rockhampton region, visit Live Capricorn Coast’s All things business – https://livecapricorncoast.com.au/page/capricorn-coast-business to discover more about business opportunities, investment and starting a business.
Other helpful websites: Queensland Government business portal Running a business – https://www.business.qld.gov.au/running-business
Australian Government business portal Support for businesses in Australia – https://business.gov.au/
Support for startups and entrepreneurs Advance Queensland – https://advance.qld.gov.au/
Business Queensland Grants – https://www.business.qld.gov.au/starting-business/advice-support/grants
*This figure does not include businesses that are registered in other locations, such as large corporations or businesses with multiple sites.
