Microbusiness in Australia: Driver of Growth or a Poor Cousin? Lessons from the International Experience

There is evidence to indicate that the Australian government has for many years inadequately addressed the concerns of microbusiness as an important contributor driving future entrepreneurial and economic development. This paper argues that the microbusiness sector contributes significantly to Australia's economy, its social fabric and its ability to evolve, innovate, incubate and meet changing economic demands. However, this is constrained by a lack of due recognition accorded to the sector generally. The paper contends that to maximize the potential of this sector, carefully considered legal, regulatory and support mechanisms need to be designed and implemented. It is also contended that Australia lacks an appropriately defined microbusiness category that could be used to create suitable laws, regulations and support systems. Drawing on international evidence, this paper recommends a way forward to address this impasse.