SMEs is an important sector of the Australian economy because it takes up 97.7% of total businesses and employs approximately 62.1% of the Australian working population (ASBBFEO 2019). This statistic is not exclusive to Australia as OECD (2017) recognizes the important role SMEs play in the national economies around the world. Not only do they generate employment but also contributing innovation, sustainability, new knowledge-based know-how and entrepreneurship to the country.