Square graphic for the Money Secrets Podcast. Teal background with bold white text centered at the top that reads: 'Shining the Spotlight on Small Business' Below, a smiling woman (Fi Johnston) wears a bright, colourful dress. — Tune in to discover why the media’s obsession with startups often overlooks the true innovators among us, how to leverage your finances for real impact.

In this episode of **Money Secrets**, Fi Johnston celebrates the unstoppable power of small businesses as the backbone of the Australian economy. **Fi explores what defines a small business in Australia and why these enterprises deserve more recognition.** Fi highlights the staggering impact of these 2.7 million small businesses, which employ 45% of the workforce and generate 35% of Australia’s GDP. Yet, despite their contribution, small businesses get overshadowed in the media by corporates and fast-scaling startups.

Listen to Episode 3

What You’ll Learn in This Episode

Defining “Small”: There’s no single definition, but turnover under $10 million and fewer than 50 employees is a common benchmark.
2.7 Million Strong: Small businesses make up a huge portion of Australia’s economy, yet don’t receive the spotlight they deserve.
Startups vs. Small Businesses: While all startups begin small, they differ by aiming for rapid, broad-scale growth—often fuelled by venture capital—which can also lead to rapid failure.
Real-World Impact: Day-to-day, small businesses are the ones employing locals, fostering community connections, and solving immediate problems with innovation and persistence.
Where’s the Media Love?: Fi questions why we celebrate VC-backed startups (even those that go bust quickly) over the resilient, people-focused small businesses that power Australia’s economy.

Transcript: Shining the Spotlight on Small Business in Australia

Money Secrets Podcast – Episode 3

Introduction

We've made a lot of progress as a society in many areas, but one thing that hasn’t changed enough is our relationship with money. If we want to tip the scales in favour of marginalised people, we need to understand the secrets to making money in small business.

The more we talk about money — especially the secrets that usually stay behind closed doors or on the golf course — the more empowered we become. My mission is to get more money into the hands of good people, specifically business owners like you.

Because I believe small business can change the world. And to do that, we need to be making more money.

Acknowledgement of Country

This episode was recorded on the lands of the Wurundjeri People of the Kulin Nation. I’d like to acknowledge them as the Traditional Owners and custodians of this land and water that I live, work and play on.

I pay my respects to Elders past and present, and recognise that sovereignty has never been ceded. This always was, and always will be, Aboriginal and Torres Strait Islander land.

What Is a Small Business?

Before we go any further, let’s start by appreciating the impact of small businesses in Australia.

So, what is a small business?

There are a few definitions out there. The ATO has one, WorkCover has another—some based on revenue, some based on number of employees.

But for simplicity, let’s say a small business is one with:

Less than $10 million in turnover
Up to around 50 employees

Sure, you might hear terms like micro, small, and medium businesses—but in this space, we’ll call all of us small businesses.

Small Business by the Numbers

There are 2.7 million small businesses in Australia.

We employ 45% of the Australian workforce, including ourselves.
We generate 35% of Australia’s GDP.

That’s huge. And yet, we don’t get talked about nearly as much as we should—especially in the media.

But the Media Loves Corporates and Startups...

So much of the media seems obsessed with corporates—many of whom do plenty of things they shouldn’t be proud of.

And then there’s the obsession with startups.

Now, let’s be clear: while all startups begin as small businesses, not all small businesses are startups.

A startup is generally defined as a business with the potential for high growth and large-scale revenue without equally scaling expenses. Most are in tech, because software allows that kind of scale.

The media glorifies startups, yet so many grow rapidly—often using venture capital—only to collapse just as fast. Tens or even hundreds of millions of dollars are poured into some of these companies, only for them to go bust after a few years.

And somehow, we still celebrate that?

Let’s Celebrate Real Small Businesses

Meanwhile, real small business owners are out here every day:

Employing 45% of Australians
Giving people their first job
Solving real problems with creativity and persistence
Treating their clients well
Innovating within their means
Genuinely caring about their teams and communities

Small business owners are making the world a better place. We deserve to be celebrated too.

Good Money Club

Are you a female or LGBTQIA+ business owner who wants to make more money and create meaningful change? My 6-month program, Good Money Club, is designed to help you do exactly that.

We work on your pricing, positioning, business model, and mindset — so you can build your bank account and your impact. Read more about Good Money Club.

Outro

Thank you for listening to Money Secrets. If you loved this episode, please subscribe, share it with a friend, or leave a review. Your support helps us get these conversations into the hands of more good people who deserve to thrive in business.

We’ve come so far as a society in many ways, but money is one of the areas where progress hasn’t been enough. If we want to tip the scales in favour of marginalised people, it starts with understanding the secret: money in small business.

In this podcast, Money Secrets, host Fiona (Fi) Johnston—Chartered Accountant, small business advocate, and impact enthusiast—dives into the conversations we need to have about money. The secrets that once stayed behind closed doors (or on the golf course) are finally out in the open.

Fi’s mission? To get more money into the hands of good people, like you. She believes small businesses have the power to change the world, and the key to making a bigger impact is to make—and manage—more money.

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Thank you to everyone involved for bringing this podcast together. We are excited to hear from you with any questions, feedback or suggestions for future episodes that you might have. Send a Direct Message to @peach.business

If you are excited for what’s to come, please like this episode, follow the podcast and share it with your friends. We are thrilled you're here.

Want to find out more about Good Money Club? It's for female and non-binary business owners ready to make more money and impact. Join us?

Check out my FREE Pricing Training you need to set your prices for profitability.

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This podcast episode was recorded on the lands of the Wurundjeri People of the Kulin Nation and I'd like to acknowledge them as the Traditional Owners and custodians of this land and water that I live, work and play on. I'd like to pay respect to elders both past and present, and note that sovereignty has never been ceded. This always was and always will be Aboriginal and Torres Strait Islander land.

Shining the Spotlight on Small Business in Australia

Tune in to discover why the media’s obsession with startups often overlooks the true innovators among us, how to leverage your finances for real impact.