- Australian new business numbers rise, but so do exits
According to Bureau of Statistics figures released yesterday, the number of new Australian businesses has risen over the past 2 years, but less are surviving.
After a decline in the rate of new businesses during the financial crisis in 2007-9, the numbers picked up from 2009-10 rising 3.6%. For the year of 2011 growth was slower at 0.4%. That brings the number of operating businesses in Australia to 2.13 Million, of which 96% are small businesses. The figures also show that exits of new businesses is also climbing, and that the younger a business is, the harder it is becoming to survive. Of the 2.07 Million business that were in operation in 2007 just 60% survived to July last year, and this figure plummets to 48% for new businesses.
While Aussies are regaining the confidence to open new business since the worst of the financial crisis a few years ago, the figures show that more support is needed to help new business survive the crucial and unstable first few years.
- Facebook applies for public listing
Facebook today filed its S1 registration - to take the company public. It's a day many people have been waiting for and the investment world has gone into ecstasy. Wall St opened the day in the green partly because of this news, which could see the company valued at around $100 Million. With the application has come the revealing of plenty of information which has been widely speculated.2011 Revenue sits at $3.711 Billion
Annual revenue grew 154% from 2009-2010 and 88% from 2010-2011
85% of its revenue comes from advertising, as opposed to 100% in 2009.
Mark Zuckerberg owns 28.4% of the company. If the company is valued where everyone expects it to be, that'll leave him worth around $25 Billion
- Big boost for manufacturing
Good night for many manufacturing markets with the US seeing its best manufacturing performance in 7 months. Germany and China and Australia also expanding
- Sleep problems cost economy $5.1B
Research from the Sleep Health Foundation and Deloitte Access Economics has found that lack of sleep is costing the economy $5.1 Billion, the majority coming from lost productivity and poor work performance. While it's hard to believe losing sleep can translate into dollars, it certainly is a wake-up call to get to bed earlier and get a good night's sleep!
- Also, word on the street is that an agreement on the Greek debt negotiations with creditors will come in the next few hours.
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