30 May

Small business is an object of worship in most countries. It's a terrible model to use as a model for an entire economy. Scale brings economies of scale, meaning cheaper prices, and easier lives. You won't find many small business owners living easy lives. About 75% of small businesses fail inside 5 years. The Australian building industry a case in point. Australian construction firms with 200 or more employees generate 86 per cent more revenue per worker than Australian construction firms with five to 19 employees. The building industry is going backwards, because of the shift to contracting, with smaller firms. https://www.abc.net.au/news/2025-05-27/construction-small-businesses-cut-productivity-raise-costs/105342166