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Small and medium-sized enterprises (SMEs) like yours, drive the Australian economy. Of the 2.4 million businesses in Australia, SMEs makeup 98% of all Australian businesses. Nearly two-thirds of those businesses are sole traders and more than a third employ between 1-19 staff. In Australia, SMEs produce one-third of the total GDP and employ nearly 5 million people.

Small businesses drive innovation and competition in most economic sectors, and create more new jobs than large firms, but they also suffer the majority of job contraction. This weighty responsibility doesn’t come without significant emotional wear and tear; and Australians who run their own small business typically forgo up to *43 days of personal time annually ( *Xero Emotional Tax Return Survey June 22)

Stress, sleepless nights and hair loss?

They report that the ongoing stress of running a business can take a toll on appearance, wellbeing, with exhaustion, sleepless nights, headaches, weight change and even hair loss! Around 46% of those who run a small business say they’ve had to miss out on a healthcare appointment due to work demands – and that romance fizzles with 30% unable to remember their last date, and 24% with holidays on hold. Interestingly small business owners spend more on gifts to make up for their absences… However, at Pinkerton Accountants, we have a much better course of action ! Cal us today.

Working late on your own, and avoiding the mailbox or Inbox, can be the loneliest and most stressful of times. With 40 years’ experience in Accounting; and 29 years running a SME accountancy practice ourselves, we get it ! We know you need advice and encouragement, and exceptionally empathic support. When you put us on your team, you’ll get your dates and your holidays back, and we will help take the fear and stress out of deadlines and regulations.

We love small business too. Despite the emotional costs of running a business, most small business leaders (85%) wouldn’t have it any other way; three quarters (74%) say they can’t imagine living a different life. Pinkertons Accountants support you to create security for you and your family’s lifestyle and freedom.

I know a lot of people are complaining about rising interest rates and a cost of living crisis, but believe it or not, Australians have earned the title of the world’s richest people for the second year running, according to the latest Credit Suisse Global Wealth Report for 2022.

Soaring property prices and increased savings lifted the median wealth per Australian adult by US$28,450 (A$42,780 equivalent) to US$273,900 in 2021, the report reveals, placing it in the top spot in the world’s ranking.

Belgium came in a close second place with a median wealth of US$267,890 per adult. New Zealand placed in third with a median wealth of US$231,260 per adult.

Fourth, fifth and sixth place was taken by Hong Kong SAR (US$202,380), Denmark (US$171,170), and Switzerland (US$168,080).

But when measured by average wealth, Australia is fourth behind Switzerland, the United States, and Hong Kong, suggesting that wealth is more evenly distributed in Australia than in those countries.