The 12 of the best business ideas in Australia
Despite being the world’s 6th-largest country and boasting the 13th-largest economy, Australia is often overlooked in terms of business in favour of the U.S and its European cousins.
However, in recent years, Australia has seen a significant shift in its economy. What was once a land of raw resources – dealing in sheep and coal – has adapted to new technologies, scientific breakthroughs and a growing global economy.
Business Landscape in Australia
Before the pandemic, the Australian economy was one of steady growth with larger established companies often dominating industries.
However, with global disruption, heightened geopolitical tension and an increased focus on sustainable practices – Australia is in a state of flux.
It’s chaotic but it can also be an opportunity. The timing is great for a shakeup as new startups enter the scene, disrupting the traditional companies and their monopoly over the market.
Australia has a real spirit of independence and when given the option, most of us would choose to support local businesses over a big chain.
In recent years, Australia’s relationship with China has deteriorated resulting in tariffs on key Australian exports. This received considerable media coverage and means more consumers are prioritising Australian products.
Also, many Australian companies have the option to expand into the rest of Oceania. Australia is by far the strongest economy in the region and reliably produces high-quality products.
As countries like Vietnam, Indonesia, and the Philippines undergo rapid urbanisation, this growing consumer class has greater spender power than ever before. Innovative and ambitious Australian companies will be some of the quickest to benefit from the new trade.
Top Industries in Australia
Superannuation funds, health services, and mining are some of the traditionally high-performing industries in Australia and they’re likely going to stay that way.
However, the industries to look out for are those undergoing rapid growth as they’re the ones with opportunity.
A common trend in our new Covid normal is a nationwide return to many of the services that were unavailable throughout the pandemic. Cinemas, hotels and resorts were some of the quickest to rebound and they all have opportunities for small businesses.
Many tourist companies have been forced to close because of the pandemic and as consumers return to their usual practices, there is a significant gap between supply and demand.
So, if you’re creative, there are opportunities for Australian businesses to step in to fill these gaps in the market post-pandemic.
14 of the best business ideas in Australia
The best business ideas Australia-wide depend on you and your skillset.
You might be a people person who’d love to start a consulting firm or perhaps a skilled coder who wants to work behind the scenes on websites and apps. You might be handy with tools, a skilled tutor, good with kids or any number of things.
Whatever your skillset, Australia is full of opportunities for you. These are some business ideas in Australia that have the potential for impressive growth.:
The world of technology is ever-changing and companies and governments need growing digital defence. A knowledgeable and reliable expert in network security and defence is a lucrative area to start a business.
Helping companies stay ahead of the curve and solving their problems is an ever-changing industry where a new perspective can propel you to success.
Do you have valuable skills? Are you comfortable teaching? Sharing your knowledge through creating an online course is a great way to make some easy money off the work you’ve already done.
For the foodies and chefs out there, a restaurant might seem like the logical choice. However, restaurants are hard work and high-risk. Catering is a simpler option with rapidly growing demand. Learn more about entrepreneurship in the food and beverage industry with our ExpertTrack.
Small business ideas in Australia
Australia has a rich history of supporting small businesses and shopping locally. However, you can’t count on this community support.
The most important thing to keep in mind when starting a small business is your point of difference from the big companies. Are your staff friendlier, the product superior or your location more accessible?
The idea itself won’t matter as much as the point of difference. So be sure to make yours obvious to the consumer. That said, some great small business ideas include:
Farming and Agriculture
If you like the great Australian outdoors and know your way around a farm then this might be the job for you. If you have enough property, you can start right away, producing and selling food products. You could even look at sustainable food production.
Plus, with Australia’s major cities boasting incredible local markets, there are so many ways to sell the food you grow or otherwise source. With a simple beehive in your backyard or a row of chicken coops, you can sell honey or eggs without too much set-up, and go from there.
They operate with little to no staff and require very little management. The best laundromats highlight their main selling point, convenience, by choosing an accessible location and having longer opening hours.
Home business ideas in Australia
Many of us now recognise the benefits of working from home. For a business owner, the benefits are even greater.
No more renting, commuting, buying a bunch of suits or dealing with office drama. All of these things are a drain on your resources and for a new business, there’s precious little money and time to spare.
For many of us, the lack of a schedule may result in lower productivity. So to succeed with a home business, you’ll need to be skilled at managing projects.
That said, here are some of the best home business ideas in Australia experiencing considerable success right now:
Do you enjoy being creative? Have an eye for space and design? This intellectually challenging profession can be enjoyable and stimulating.
The court of public opinion is extremely fickle and having the right creative marketing advisor can catapult a company to success. In this digital age, we see a rising demand for skilled marketing advisors from a wide range of backgrounds.
Online business ideas in Australia
An online business is a cost-efficient, flexible business type that has been experiencing rapid growth over the last couple of years.
Not only are you bypassing rent, commutes and other office struggles but you’re able to tap into an international market. Here are some of the best online business ideas in Australia:
More and more people are turning to technology and the internet to solve their problems. This is an industry with undeniable growth and tech startups have the opportunity for massive gains. If you have a tech vision and an opportunity to start a business, this could be a beneficial area.
These digital shops are easy to start and promote through platforms like Shopify. The setup is affordable and low risk. E-commerce stores avoid the large down payment on rent or a mortgage that traditional businesses are often hampered by. Learn the fundamentals of e-commerce in our ExpertTrack.
Side business ideas in Australia
Whether you’re looking to spice up your income, slowly build a business or just become less reliant on your primary job, a side hustle is a simple and time-efficient way to do all of that and more.
Starting a side business is a great way to grow your skills and diversify your income streams but for many people, starting is just too hard. To get yourself inspired, take a look at these side business ideas for Australia:
Platforms like YouTube are digital behemoths, boasting 2 billion monthly users. Years of vlogging can result in either fond memories or millions of dollars.
If you have a strong on-camera presence and the time to grow your following, then vlogging can be a lucrative opportunity. You can learn to build your personal brand with our ExpertTrack from Professor Jonathan A.J. Wilson.
With affiliate marketing, you’re not designing, shipping or storing a product. All you have to do is take a minute or even a few seconds on your blog, social media pages or emailing list to promote someone else’s product. And in return, you pocket a nice commission. Check out our ExpertTrack and master digital marketing strategies to get ahead in this area.
Other Business Ideas in Australia
There are plenty of other business opportunities out there. These are two of the simplest to start and most enjoyable to maintain:
Ever dreamed of being a movie star? Becoming an acting extra is a fun way to earn some additional money and possibly start your Hollywood stardom. Our Introduction to Acting course can help you hone your skills.
If you have the skillset, you might look into starting a babysitting business. Many people with kids are looking for skilled, kind and caring individuals to look after their children, allowing the kids to be at home in a comfortable environment.
Babysitting can be a lucrative business in Australia as parents are willing to pay a lot for the best care for their children. As more people are going back into the office post-pandemic, this could be an incredible opportunity to help your business soar.
Australia truly is a land of opportunity. From laundromats to vlogging, there is a huge range of Australian business ideas.
However, don’t stress too much over which industries have grown how much last quarter and don’t spend all your time analysing the data.
Self-improvement is the best way to guarantee success. If you’re constantly learning better business skills, then you’ll thrive in any industry.
Here at FutureLearn, we know that being an entrepreneur is hard. That’s why we’d recommend checking out our full range of courses which will help you take your business idea from a dream to a reality.
FutureLearn Courses for Starting a Business
Starting a Business 1: Vision and Opportunity
Starting a Business 2: People and Networks
Starting a Business 3: Customers and Competitors
Starting a Business 4: Business Processes
Starting a Business 5: Managing Finances
Starting a Business 6: Funding Your Business