So, what business is Australia famous for? Mining—The country plays a leading role in mining due to its vast reserves of minerals like gold and iron ore. Of course, there are other business ventures in Australia that you can explore.
No question, starting your own company is like entering a battlefield. It’s risky, unpredictable and draining. But if you can find that one profitable business in Australia where you can make a living, wouldn’t you care to try?
Which business is growing fast in Australia? Which business makes money faster? These are questions that you often wonder about while staring at the ceiling.
There are a handful of Australian businesses that are actually generating more income than others.
In this blog post, we’ll explore which startup concept has the strongest chance of succeeding in the Great Southern Land.
To start with, it’s highly advisable that once your business starts gaining traction, you delegate. Use virtual assistant services to lighten your workload and free up your time to build your business.
Business in Australia in Hindsight
Australia’s economy is driven by its diverse industries.
Let’s break down the country’s business environment and temperature in numbers:
- 2.66 million businesses are running in Australia.
- Construction is the largest industry in the Land Down Under based on numbers, garnering 452,820 business trading.
- Healthcare and social assistance is Australia’s biggest industry by number of workers around 1.66 million.
- About 76.5% of Australian companies survive first year of operation.
- Small businesses run Australia’s economy, comprising more than 97.2%.
- The oil and gas industries have the best average profit margin, with 52.8%.
- Transport, warehousing, healthcare and financial services were among the sectors that recorded the strongest growth last year.
- Agriculture, retail, forestry and fishing were the only sectors with the lowest business operations in numbers last year.
How Many Small Businesses Are There in Australia?
As mentioned, the Aussie business sector is ruled by small and medium enterprises.
Australia has under 2.6 million businesses, of which around 97.2% are small enterprises. Among these, 64.3% operate with no employees.
Can Your Small and New Business Survive in Australia?
The survival rate of new companies in Australia varies depending on the industry.
For example, the agriculture and fishing businesses have survival rates below 62.6% in 3 years of operation. Meanwhile, only 38.8% of warehousing and transport firms survive for the same number of years.
Overall, the survivability of new companies across different industries was about 50.1%, which is technically like flipping a coin—there’s no blatant best choice.
What Small Business Makes the Most Money in Australia?
Are you one of those people who want to make it big by setting up a small business enterprise? If you are, you’re in for a treat.
We will reveal to you some of the most successful small business fronts that you can find in Australia right now.
Laundromat Business
This is a self-service laundry facility that may seem odd to start but is surprisingly profitable. In Australia, the dry cleaning and laundry business has an annual gross revenue of 2 billion dollars.
In the next couple of years, this industry will continue to rise and become even more profitable. So, if you’re interested in setting up a laundromat shop, you won’t be disappointed.
Gaming
Are you fond of online games? Are you proficient in programming languages? If you say yes to both questions, then this is the best startup company for you.
The gaming industry in Australia is gaining traction as we speak, so perhaps this is the perfect time to accelerate your game production.
Airport Shuttle Service
This is the most profitable business in Australia for people who are into transportation. You can jumpstart an airport shuttle service, considering the potent demand for quality transportation.
For you to be successful in this business, though, keeping a healthy business relationship with travel agencies and tour operators is a must.
Network Security
The world we live in has become more compact, thanks to the internet. Since we’re so connected, this has opened security holes, putting sensitive data at risk.
That being said, launching your own security firm is a really good business concept not just in Australia but anywhere else in the world. You can provide powerful online security for your clients. But first, you have to have a knack for technology and everything computer.
Babysitting
Do you like babies? Babysitting is actually a great way to earn money in Australia.
This is a high-yielding small business idea that you can launch from the comfort of your home. Plus, you don’t need a big initial capital.
In Australia, more and more busy parents need qualified babysitters to look after their toddlers while they're away. Your business can be their lifesaver.
Food and Beverage
From food trucks and catering and taverns to takeaway services, the food and beverage industry has a massive startup factory.
By 2030, the market size of this industry could swell to $250 billion, making it one of the top revenue-generating businesses in Australia.
Food trucks, for instance, are becoming popular because of their one-of-a-kind dining experience. And with Australians having more disposable income, you have a high potential for repeat customers.
Now is your chance to turn your grandmother’s legendary recipe into a successful business enterprise. Just be warned, there are areas in Australia with a saturated food truck market where competition is scary high. To succeed, you might need sufficient resources and come up with out-of-the-box marketing.
Retail
Another common small business concept that generates high revenue in Australia is a retail business. You can open your own online or physical convenience store, pet supplies or eco-friendly products.
These are excellent choices for retail outlets that you can start in 2025 with Australia's rising economic outlook.
Business Support Services
This industry accounts for 27% of Australia’s entire GDP. This means there is a great demand that you can fill.
Even better, business support services have low overhead costs, which means you have greater flexibility in the market and reduced financial risks. You can roll in support services in cleaning, recruitment or employment placement.
Auto Repair
In Australia, it’s hard to get your vehicle to an auto shop, even for minor repairs. Why? Everyone rides their automobiles to get to places; you will be waiting in a long queue to have your car fixed. This is not only expensive but also extremely inconvenient.
The truth is that some repair services only require basic tools that you have no problem acquiring. Therefore, if you’re crazy about cars and have mechanical knowledge, an auto repair shop is your most lucrative business idea.
You can offer battery replacements or oil changes in high-traffic areas.
Mobile Car Wash Services
A car wash service ranks second in Australia’s top-grossing businesses. Thus, it is right to think that many people would be willing to pay a high price to have someone wash their vehicles on the spot rather than travel to the next car wash.
This is mostly true for rich folks who cruise in luxury automobiles, preferring personalised auto care.
A physical car wash facility is costly, but by being mobile, you can sidestep the costs and present a unique value proposition to your clientele.
Electronics Repair
The reality is that almost everyone is consumed by electronic devices. You and your next-door neighbour and everyone you know are glued to the screens of smart devices.
This addiction to technology paves the way for another business proposal: a mobile electronic repair service. Someone has to take care of everyone’s gadgets when something goes wrong, right?
You can be that someone who fixes a dysfunctional laptop battery or a cracked phone screen. Many electronics retailers have long wait times (try visit an Apple store), and you can use that to your advantage.
E-Commerce Store
The e-commerce sector in Australia generated $69 billion in sales last 2024. In the same year, there were 9.8 million households that made online purchases. That’s an overwhelming number, if you were to match it up with the country's 27 million population.
E-commerce is a vibrant business prospect for savvy Australian entrepreneurs. This market is massive and diverse, bringing in high revenues with minimal overhead costs.
The good news is that e-commerce makes it easy to connect with a wider audience via social media and other online marketplaces. Despite the fierce competition, you can leave a mark in this industry by aligning your ideas with the current preferences of your Australian customers.
Fitness Services
Australia’s fitness market is soaring, with a market size of almost $3 billion. Unquestionably, it is seeing significant growth and fuelling the country’s economy.
Fitness centres are jammed, and we have Chris Hemsworth to thank for it—just kidding. In truth, these very health-conscious Aussies have just become keener on staying fit and healthy, especially after the pandemic scare.
Here are some of the profitable businesses within this industry that Australians are willing to pay with their hard-earned money:
- Boutique Fitness Studios: personalised workouts
- Health Food Stores: specialised selection of organic and natural products
- Health clubs: various fitness services offered affordably and conveniently
- Personal training services: perfect for fitness enthusiasts who want to achieve a specific goal
While you will have customers who love to splurge, this comes with a bigger investment on your end.
Innovative Ventures
These are businesses keyed to modern technologies and innovation, like chatbots.
Building an innovative business venture has a high-profit margin with low overhead costs, making operations simple to scale. This, however, requires creative vision and the right technical skills.
Some of the highest-paying small businesses in this sector include…
- Cybersecurity companies prevent cyberattacks and mitigate security risks.
- Artificial intelligence provides analytics and uses algorithms to help users stay efficient and make informed business decisions.
- SaaS companies offer clients cloud-based software solutions.
What Companies Make the Most Money in Australia?
In the past decade, Australia has been the go-to place for startups and domestic firms, putting the country on the global map.
Many of these enterprises were put up by young Australian businesspeople who wisely leveraged profitable small business ideas.
Australia has extensively supported a robust culture of entrepreneurship, a culture that is deeply embedded in two of Australia’s metropolises, Sydney and Melbourne. These major cities are ranked in the coveted list of the “Top 50 Best Startup Cities in the World.”
The thriving startup landscape in Australia is brimming with businesses working on several modern technologies like AI, virtual learning and shopping platforms.
Some of the most successful companies produced by Australia include the following:
- Canva: An Australian software company for designing presentations and social media graphics. As of right now, this graphic design tool has more than 10 million users around the world.
- Woolworths: This is Australia’s largest supermarket chain and a trusted brand for retailing and online shopping. Currently, it takes up 32% of the market share of the country’s grocery sector.
- Freelancer: A popular Australian online marketplace where global clients can search for and hire virtual assistants. It has a vast user base with about 64 million active users.
- Envato: This is an application that provides digital materials for creative projects, which is super handy for software developers and website designers. Today, Envato has exceeded 10 million users who sell and purchase digital assets.
Frequently Asked Questions
What Is the Biggest Demand in Australia?
Healthcare and social assistance have the most explosive demand in Australia.
Over the next few years, employment in health care and social assistance will scale by 15.8%. This growth is prompted by continued demand and major investments in health due to the country’s ageing population.
Is it Wise to Start a Business in Australia?
Yes, regardless of whether you’re an Australian citizen or not. Australia is a prosperous country that is a paradise for startups. It has the advantages of bountiful natural resources, a highly intellectual workforce and a good business environment in both financial and trade freedom.
What Type of Business Has the Highest Profits?
Australia’s economy is accelerating, bouncing fast from the previous years’ torturous pandemic era.
Here are the industries in Australia with the highest profits:
- Oil and Gas Extraction: 58.2%
- Non-Metallic Mining and Quarrying: 49.4%
- Coal Mining: 48%
- Metal Ore Mining: 42%
- Real Estate Services: 36.3%
Is it Possible for Foreigners to Start a Business in Australia?
Yes, even overseas residents can start their own business in Australia. They would be smart to do so with the country's amazing business opportunities.
The Australian government entices foreigners to start their own companies to boost the economy. The state even allows you to take your business from your home country to Australia. But since you’re a non-citizen, you’re still subject to a specific work visa in Australia.
Read on: Small Business Ideas for Modern Women
Wrapping Up
So, what’s the most profitable business in Australia? It is the one that meets the market’s needs and utilises the emerging technologies.
You can choose from the list of small business ideas in Australia that we mentioned in this article. Just tread with care, because the economic landscape is moving at radical speed. You must stay in the know and learn to adapt.
In Australia, virtual assistants can be your strategic partners. They’re a cost-effective staffing solution that proves useful in scaling your business faster. These remote professionals can maximise efficiency and productivity, especially in the new norm.
Outsourcing your most time-consuming tasks to a VA means enjoying the following benefits:
- Reduced Costs
- Work with the Most Qualified Candidates
- Access the Global Market
- Flexibility
- Better Business Productivity
- Scalability
- Improved Efficiency
Expand your wings and triumph in your business endeavour in the land of opportunities.