Economic insights for the small businesses sector
The SME Performance Indicator is an aggregation of gross value added (GVA) for the small business sector (1-19 employees).
Analysis of this sector, including breakdowns of key industries and states, provides insight into our economic future.
SME Performance Score
For December 2024, the SME Performance score sits at -2.0. This is a slight uplift compared to the reading for August 2024 (-2.2).
Sector findings
Agriculture GVA picked up strongly during the first half of FY2024-25, after retreating over the preceding six months. This is consistent with current agricultural conditions and the broader outlook for the sector.
Health GVA has trended sideways over the past six months, although month-to-month outcomes have been in flux.
GVA for the information, media and technology (IMT) industry continues to following a period of expansion during COVID-19.
Professional, scientific and technical (PST) services GVA has been fairly resilient over the past 3 years compared with other industries however it appears to have softened a little in recent months.
GVA for the retail industry continues to decline as the sector faces challenging conditions, with many households reducing non-essential spending.
Accommodation and hospitality GVA has continued to fall since the August, with the industry particularly affected by the challenging budgetary conditions facing households.
Previous SME Performance Indicator reports
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