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The ASIC company register has released the following breakdown of activity between 1 July and 30 September 2020.
The table below details how many companies were registered in each state during this quarter:
State | Number of companies registered |
New South Wales | 24,503 |
Victoria | 18,268 |
Australian Capital Territory | 1,275 |
Queensland | 12,811 |
South Australia | 3,206 |
Western Australia | 5,479 |
Northern Territory | 272 |
Tasmania | 732 |
It is, of course, possible that many of these new company registrations reflect sole traders and partnerships incorporating in order to limit personal liability during uncertain times, but we have been unable to verify whether this is the case.