Middle-market remains the engine room of Australian economy
According to a recent report by BDO, Australia’s mid-market is one that is often overlooked, yet is a significant contributor to the economy. These are organisations with annual revenues above $10m and up to $1 billion.
Findings from the latest research by the fastest growing mid-tier professional services firm in Australia, BDO, show that mid-market businesses are a minority in number – comprising approximately 2.1% of all registered Australian tax-paying business – yet they contribute in excess of 20% of net corporate tax revenues for all business types, driving business growth and employment substantively.
Office Managing Partner for BDO Australia in Sydney, Grant Saxon, said there is new evidence that demonstrates the mid-market segment is growing, in size and relevance to the economy.
“The middle market punches significant above its weight, is achieving consistent growth and driving employment in Australian businesses,” Mr Saxon said.
“Not all middle-market business are achieving growth. There are some having a difficult time in today’s economy, but we see those that are highly focussed on their people, technology and funding to drive growth as having the greatest success.”
“Although small in number, the mid-market employs around 20% of the Australian workforce and produces just under a quarter of Australia’s total revenue.”
Growth Index Comparison Tool
So what does a high-performing middle-market company look like? The middle-market segment is diverse in terms of size and sectors and this can make it hard for businesses to determine how they are performing against their competitors. In light of this, we are pleased to launch our Growth Index Comparison Tool, which may be used somewhat as a proxy for Australian middle-market businesses to benchmark organisational performance.
This interactive benchmarking tool, allows users to drill down and evaluate their performance based on sector, location, company type, and revenue. Of course, there is significantly more detail required to truly benchmark organisational performance, but it provides a good base to start.
HOW TO USE THE TOOL:
- Explore the Growth Index by using the Microsoft Power BI toolbar below to scroll through pages 1-4
- On page 2, drill down on the sector analysis by highlighting the relevant year on the left-sided form box
- On page 3, use the growth analysis drop-down boxes to drill down by industry group, state, company type, and revenue range.
- For a larger view, expand the double-ended arrows found on the right-hand side of the Power BI toolbar
- Share the tool using the icons on the Power Bi tool.