SMEs in Australia: Why strong accounting practices are the backbone of growth
Small to mid-sized enterprises (SMEs) make up almost 97% of all Australian businesses, and are responsible for employing a large proportion of the workforce. Business growth for SMEs in Australia is not just about simply increasing the size of operations or market share. It also concerns establishing financial foundations that can be trusted. Accounting helps SMEs overcome their expansion challenges in the market. It establishes order, offers insights into the business, and a