Starting a business can be challenging, and for women and marginalised people, the barriers to succeed can be even more significant. That’s why we’re here to help, with stories and tips from people who’ve been there.
Introducing Square One: a series created in partnership with Square to help inspire small and medium enterprises realise their potential.
In 2021, a whopping 365,480 new small businesses were started in Australia, a 3.8% increase on the previous year. People's shifting priorities and attitudes around work over the last few years have certainly been a contributor, and there's no denying that Aussies are more willing than ever to take that leap of faith.
We know, however, that starting a small business is no easy feat. Statistics suggest that only 54% of new businesses survive four years. Between the long hours, carrying out multiple roles and engaging new customers, bringing your business to life can have a steep learning curve.
While that sounds daunting, there is solace in knowing that everyone who's running a small business has done the hard yards — which is exactly the case for the owners of RUUSK, Collective Closets, Grumpy Donuts and Rumbie & Co. Each of these businesses was founded by women who successfully took an idea and grew it into a one-of-a-kind, community-loved business.
So if you're one of the many Australians that's currently running a new small business, or if you're seriously considering starting one, here's some advice from people who've been there.