CANBERRA, ACT, Aug. 4 -- The Treasurer of Australia issued the following media release:
New ASIC numbers show that a new record has been set for the number of new companies registered last month.
44,040 new companies were registered in July, this came after 43,393 were registered in June.
Many more businesses are being created on our watch and there is a much smaller proportion of insolvencies than under the Liberals and Nationals.
We have a big agenda to boost productivity and investment and drive growth, and our policies are supporting businesses right around the country.
We already saw before the budget that average new company registrations were higher under this government than any previous government on record, and today's data continues this trend.
There have been only two times since records began in 1999 that more than 40,000 businesses have been registered in a month and both times have occurred under the Albanese Labor Government, with the biggest twomonths for business creation being the twomonths since the budget.
There have now been more than 1.3million new companies registered under this Labor Government and more than 1.3million jobs created under this Labor Government.
An average of 900 companies have been created each day of this Labor government while just over 30 have become insolvent.
There've been around 30 times the number of companies opening than closing each day on average on Labor's watch.
Angus Taylor and the Coalition try to talk down our small business sector and talk down our economy.
They fail to mention that the insolvency rate is almost half of what we saw in the Howard years and new registrations are at record highs.
The Budget contained important new support for small businesses which recognises the legitimate pressures they face.
Despite these pressures, we are encouraged by the record numbers of new businesses being created on our watch and the strong growth in business investment.
Disclaimer: Curated by HT Syndication.
