In our increasingly fast paced and competitive world it can be difficult to know if your business is performing well compared to others in your industry. The ATO has updated small business benchmarks from the 2014-2015 financial year so you can see at a glance how you are going against your competitors.
The benchmarks use information from tax returns and activity statements collected from over 1.4 million small businesses for over 100 industries.
Find out how benchmarks work and see if your business has any areas for improvements.
- step-by-step instructions to help you use the business performance check tool in the ATO app – this does all the calculations for you and is the easiest way to compare your business
- a checklist of information you need
- what you may be able to do to improve if your business is outside the benchmarks.
How to compare yourself:
- download the ATO app on your mobile device
- go to Business
- select Business performance check
- have your information ready and enter the figures into the tool
- compare your business performance
The personal information you enter isn’t recorded and will only be used for completing the tool.