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One in three Aussies keen to be business-owners

Sarah Stowe

One in three Australians are inspired to be their own boss and run a business, and young Aussies are even more entreprenuerial.

A recent survey of 1000 people by NAB Economics established that almost one in two young Australians have aspirations to be business owners.

And top of the list for business choices are cafes and retail, with IT and personal services the next most popular sectors.

More than one in three existing and hopeful entrepreneurs see the benefits of joining a community of like-minded business owners.

That’s good news for the franchising sector, which trades particularly well on the structure of support and networks of franchisees assisting and guiding each other.

And it’s an obvious tie-up when key sectors in the online search criteria for franchises match up with the desires of wannabe business-owners: cafes and retail remain strong and attractive sectors, with coffee in particular forging ahead.

The report highlights the importance of fostering growth in the Australian economy.

Leigh O-Neill, NAB’s executive general manager for micro and small business, said “Small businesses are so important to creating future jobs and economic growth, and understanding their motivations and needs means we can help support the right ecosystems for growth.”

It’s a message that Prime Minister Malcolm Turnbull is keen to press too.

“Small business is the very engine room of our economy,” he said.

“Everyone is focused on small business. It’s one of my great passions and one of the KPIs I’m setting for myself, is ensuring that the Government does more with small business.”

There are about 2.1 million businesses actively trading, according to ABS data.