Record Number of New Australian Businesses

Record Number of New Australian Businesses
People eat breakfast at a café in Sydney, Australia, on May 15, 2020. Cameron Spencer/Getty Images
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Australians are starting new businesses in record numbers, with more than 160,000 added to the economy in 12 months.

The seven percent jump over the course of a year represents a record lift since the data was first recorded 19 years ago, CommSec economist Craig James said.