Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . .

Legislative Assembly for the ACT: 1997 Week 6 Hansard (19 June) . . Page.. 1877 ..

Attachment A

MINISTER FOR BUSINESS AND EMPLOYMENT

LEGISLATIVE ASSEMBLY QUESTION

Question No. 415

Business Commencements and Cessations

MR CORBELL: To ask the Minister for Business and Employment - In relation to the number of businesses in the ACT - how many businesses have

(1) ceased operation in the ACT since 1 March 1995;

(2) begun operation since 1 March 1995;

(3) ceased operation in the ACT since 2 March 1996; and

(4) begun operation since 2 March 1996.

MRS CARNELL - The answer to the Member's question is as follows:

The following information, provided by the ACT Registry, register of business names, relates to the registration of business names only. This information does not accurately reflect the numbers of business starting and finishing, because business names may be registered and never commenced and businesses may cease operation without deregistering the business name. The number of businesses that have deregistered a business name between 1 March 1995 and 2 March 1996 is 372. The number of businesses that have registered a business name between 3 March 1995 and 2 March 1996 is 4259. The number of businesses that have deregistered a business name between 2 March 1996 and 13 May 1997 is 499. The number of business that have registered a business name between 3 March 1996 and 13 May 1997 is 5324.

An alternative indicator of business commencements and cessations is provided by Australian Securities Commission (ASC) data on corporate insolvencies and terminations and new companies incorporated. The data only relate to incorporated businesses so exclude unincorporated businesses (such as sole proprieters and partnerships). Provisional unverified data are available on a monthly basis. However, due to the data being significantly affected by the timing of lodgement and processing of corporate documents, official data are only released on a financial year basis.

Additionally, the data are allocated amongst states and territories on the basis of the place of incorporation rather than where the business is carried on. As a result, data for the ACT include businesses that are incorporated in the ACT but are physically located interstate.

Provisional unverified data for the eight months from 1 July 1996 to the end of February 1997 indicate that there have been 144 corporate and insolvencies and terminations in the ACT. This was more than offset by 1 021 new incorporations during the period.

Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . .