As an Australian, if you are also seeking smart and small business ideas to put into action, then you have come to the perfect spot. Roughly 99% of all firms in Australia fall under the small and medium-sized category, and these businesses are accelerating the Australian economy. As owners of small businesses, you’re actually a part of Australia’s thriving sector. Australia’s economy is booming, mostly due to the contributions of small and medium-sized firms. 

Here are some important insights:

As per an analysis done by NAB (National Australia Bank), small and medium-sized businesses constitute the backbone of the Australian economy, where they create 7 million jobs and make a substantial contribution to 57% of Australia’s GDP, giving space to creative entrepreneurship. The total GDP, according to World Bank data for 2021, is 1552.67 billion US dollars. These figures explain that Small businesses in Australia are playing an improving role in improving the economic expansion and prosperity of the country 

The primary sources of revenue in Australia are driven by exports in the mining sector, banking, manufacturing, and telecommunications. The service sector contributes to 70% of GDP in the country, and this includes industries like education, tourism, and financial services. The population of Australia is around 26 million, and per capita income is $66,408, which creates a perfect atmosphere for Australian small businesses to flourish. As reported by Biztraction, the industrial sector contributes to 25.3% of GDP, and agriculture comprises 3.6% of GDP in the country. 

The Australian economy is well managed, and it has a strong population. According to NAB, the bedrock of small and medium-sized businesses in the Australian economy is formed by small and medium-sized businesses. Australia has a skilled workforce and a supportive government that has come up with policies that help the citizens execute business freely. Investors are also benefiting here to expand business ventures, and hence it is always a win-win situation for investors and small businesses simultaneously. 

Now, let’s look at the top 10 profitable businesses in Australia that are tailored for the market, and if you are planning to start your own small business, then this guide will help you do so. 

Top 10 small business Ideas 

1. Laundromats 

The Laundromat business idea may sound a little distinct, but it is one of the most profitable business ideas in Australia. This business is about dry cleaning and laundry, which offers great returns. Annually, the laundromat business contributes $2 billion to the Australian economy, and an average Australian laundromat generates a return of approximately 25% of the initial investment every year, where the earnings range from $300 to $1300 per day. 

As an individual, if you are planning to make your mark in this evergreen business, then it will definitely give you profit, and you can expect your income to rise in the coming future. The laundry business is growing in Australia, and many Aussies have started small in the cleaning business. As per a recent report, the predictable growth rate of the laundry services industry is 5%, which will reach $127 billion by 2025. The laundromat industry has a success rate of 95%. 

Starting from scratch, a laundromat business will need an initial investment between $100,000 and $400,000 but yes, the cost will also depend upon the size, rent, number of machines being used, equipment cost, etc. 

2. Cleaning Business

Those looking for small profitable business ideas will find that a cleaning business in Australia makes a lot of sense. This business has become more lucrative during the COVID-19 scenario because companies call the employees back to the office and it has become a top priority for organizations to maintain cleanliness. 

With heightened awareness of the significance of workplace hygiene, businesses are going the extra mile to meet cleaning needs, and every organization is strict about the COVID parameters. To curb the spread of COVID-19 cleaning services are in demand. 

Cleaning services are not just limited to commercial settings in Australia; they encompass residential and industrial levels as well. Cleaning services include the cleaning of desks, upholstery, furniture, floors, sandblasting building exteriors, carpets, windows, steam cleaning, and much more. Small businesses often face unique challenges, but if you decide to start your own cleaning firm, there will be fewer challenges and more income. You will grow soon. 

In 2020, the global cleaning service market size stood at $55,715.0 million, and in Australia, the cleaning industry boasts a market size of $12 billion, featuring 35,248 registered cleaning businesses. The sector boasts a profit of typically 10% to 28%, and the range is amazing for any small business owner. In 2022, the cleaning business market size will have increased to $9.9 billion, and the commercial cleaning services market will have increased by 19.3% in Australia. Every year, an average commercial cleaning business makes $70,000 to $100,000. The most profitable cleaning services are pressure washing, chimney cleaning, gutter cleaning, poor cleaning, etc. 

Most Australian franchises for cleaning businesses are available between $5000 and $50,000. Moreover, you need no formal education to start this business, and it is profitable in the long run.

3. Freelancing 

For small businesses, freelancing has its own unique place because it is an independent way to work. Freelancers can choose the projects and work remotely. They have the freedom to choose their schedules and statistics show that freelance workers are more productive and happier. They earn more than traditional employees. The COVID-19 pandemic underscored the value of freelancing as many professionals lost their jobs and turned to freelancing and the demand for freelancers rose like anything during the pandemic.

In the tech sector, the need for freelancers is rising and Australia alone will need at least 200,000 experts in tech by 2030. There are many freelancing opportunities on PeoplePerHour, Upwork, Fiverr, Airtasker, 99Designs, etc. These are the best places for small businesses, like freelancers, to build their unique identity and get work. 

Freelancing in Australia is nothing new but now the requirement for freelance work has increased in the country. Freelancers can be hired on the spot, and it gives Australian small businesses the liberty to hire them only when the work is required so they do not have to hire full-time employees and save money in case there is no work at times. Freelancers are only paid when there is work and they need to offer proper work to the employer. 

A growing number of Australians are working in the gig economy and in 2019 alone, it grew by 33 percent and was valued at $6.3 billion. Gig workers will make up 40% of the global workforce by 2025. 

4. Restaurant and Food Takeaway

The restaurant and food takeaway business in Australia is the most profitable sector. Many small businesses that entered the food and restaurant industries became big in no time. Some food chains started so small, and today they have a big name in the market, like Black Star Pastry, T2 Tea, Zumbo Patisserie,Gelato Messina, and much more. Through innovation, quality, and dedication, many Australian small businesses have gained prominence. 

The food industry in Australia is very profitable and contributes to the country’s economy, with restaurants, cafes, and takeaways generating a turnover of AUD$39.75 billion. The industry employs 817,500 individuals, which constitutes 6.2% of the total workforce. You must ensure compliance with health and safety regulations and meet your goods and services tax obligations to execute the food and restaurant business smoothly in Australia.

Consider food franchise opportunities and list your business on a Google local listing. Also explore food delivery apps like MenuLog,DoorDash, etc. In 2022, the annual revenue of Australian food businesses like cafes, restaurants, and food takeaway businesses amounted to over 58 billion dollars. From 2022 to 2023, the business recorded revenue of over $23 billion, an increase of $2.4 billion. 

5. Art Entertainment and Recreation

The art and recreation services industry includes a wide range of activities, from exhibits and live performances to sports and recreational activities. The sector has gone through steady growth and it has contributed immensely to the Australian economy. From 2015 to 2020, the revenue of the industry has increased by an average of 0.5% annually. 

According to IBIS World, in 2020, the art and recreation service industry generated $7.8 billion and it ranked 11th among sectors with the highest wage in Australia. Though this sector is vast, on specific websites, one can find work and help register their events. Some prominent places to get work are Upfront Events, ArtsCentre, etc., and you can also take advantage of Google Events, which is very reliable for listing your business and events. Update the Google listings from time to time to get satisfactory results. 

6. Online teaching classes

The online teaching business has been booming during the pandemic and if you are planning to start this, then do not hesitate. It is the best time to begin this business and the online learner base is growing exponentially so pick up an interesting topic like taxation, accounting, etc. on which you have a good command. 

As per your knowledge and expertise, you can choose the subjects you want to teach and create powerful, engaging course content. Learn the technicalities of running an educational website. Choose the price of a particular course and plan the schedule to begin with. Use promotional and marketing strategies for the online academy and spend on webcam, video camera, lighting, classroom backgrounds, editing software, etc. 

7. Online fitness training

Another lucrative venture that can be started as a small business in Australia is personal fitness training. This venture offers you the flexibility to choose your schedule and train. You can work independently or join fitness studios, gyms, etc. You can join a hospital too. 

Today, health and fitness are given a lot of importance so personal training is lucrative to pursue. At present, two-thirds of Australians engage in exercise for at least 100 minutes every two weeks. The market size for personal trainers in Australia is $435 million and it features 8012 industry professionals in the business. The personal trainer industry market size in Australia will reach $491.7 million in 2023. The market size of the gyms and fitness centers industry in 2022 is 1.9 billion.

According to PayScale, personal trainers earn up to $66 per hour and trainers can always enhance their skills and earn more. Being a personal trainer means you must increase your knowledge in health and nutrition, strength and conditioning, weight loss, weight gain, rehabilitation, etc. In Australia, you need a Certificate III or IV to begin. You can look for opportunities on Air Tasker and Bark.com, and you can also list your business on Google.

8. Online retailing/e-commerce 

Online retailing or e-commerce, is a small business concept that is in constant demand. Many companies started small but became big giants. Online shopping has changed things so it is the new norm and shoppers are interested in buying products online and making online payments securely. They like the purchases to be delivered at their doorstep conveniently. In 2020, when the pandemic struck, online retail sales went up and there was remarkable growth experienced in Australia. Online sales accounted for over 15% of the retail market in the first quarter of 2021. 

The purchase of domestic products in Australia reached 51.1% online. Over 5 million households in Australia engage in online shopping. The most sought-after category for online purchases in 2021 was homewares and appliances. As per IBIA World, the online retailing market in Australia stands at $44 billion, which includes 76,324 businesses and 80,035 employees. Combining physical and online stores, retailers enjoyed significant growth in June 2021 because of lockdowns in many regions of Australia. 

The online shopping sector is predicted to grow by 35.3% and this is an opportune time for those who are seeking ideas for small businesses and want to start earning. You can sell anything online like jewelry, clothes, makeup items, art, etc. A vast expanse of the internet is there to help you and you can also use established platforms like Amzon and eBay to promote your business. 

9. Website development 

If you are looking for the best small profitable business ideas that are interesting, entertaining, and lucrative, then website development will be liked by you. The video game industry is thriving and there are opportunities for entrepreneurs to capitalize on the growing demand for website building. 

As per the Global Auralia Report, the video game industry is going through remarkable growth, with more than 2000 software developers employed. Analysts estimate the value of this sector to be $2.96 billion annually in Australia, as per Biztraction. In 2021, the sector experienced 22% growth from the previous year and was valued at $226.5 million in revenue. The numbers will boom further. 

Web development empowers businesses to establish an online presence, enhancing accessibility, visibility, and customer engagement. With professional services like WebCreationAU reviewed by Adam, businesses can leverage tailored solutions for effective digital representation, driving growth and success in the competitive online landscape.

If you have any coding skills or are eager to learn them, then this can be your start. Create interactive and entertaining games for educational purposes. Start your own game development agency, too, with no capital from home. 

10. Babysitting

If you still feel you do not have any skills and little or no capital to invest and think that these top 10 profitable businesses in Australia are not your cup of tea, then babysitting can be an ideal profession for you. You need a few skills, like patience and the ability to care for infants and children. Just enjoy spending some time with them and this career can be extremely rewarding. 

As there is a rise in working parents, there is an increasing need for reliable and experienced babysitters. Your service can be invaluable to busy parents and all you need is the affinity to work with their children. You have to change the diapers of the baby, give them nutritious meals, play with them, and keep them happy and engaged. Also, you need to ensure a safe and nourishing atmosphere for them. On average, a babysitter in Australia charges between $20 and $30 per hour and in major cities, the rates can be higher. Rates can always be negotiated and they are different for daytime and evening. 

Final Thoughts:

Consider these small profitable business ideas to embark on your entrepreneurial journey and contribute to the thriving small business community that drives the nation’s economy. The idea doesn’t have to be unique all the time, but it must have the potential to capture a market that can give you good returns. So, think well, plan out what all you can do and then decide which business is best suited for you in Australia. So, Aussies, follow your passion but make sure it gives you profit so you keep going and growing in your career. 

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Australia is a nation that is highly regarded around the world for its breathtaking natural scenery and its relaxed atmosphere. However, the nation is less well known for having a vibrant and expanding startup environment that produces a large number of successful firms.

The Australian economy is anticipated to expand by 3.4% in 2022. Due to households using their savings to increase consumption, Australia’s economy expanded quicker than anyone had anticipated, because of Australia’s ability to control After the coronavirus outbreaks, which increased consumer and business confidence, the Australian nation has recovered quickly. The talent, investment, and development in the Australian startup sector have been astounding. Heavy corporate support, entrepreneurial founders, a risk-taking mentality, and a strong emphasis on technology and innovation are the startup sector’s main competitive advantages. The cities, like Sydney and Melbourne, have become promising hubs for technology innovation.

With an enormous increase in firms valued at $100 million or more, as well as a nearly twofold increase in later-stage fundraising rounds since 2015, Australia has taken concerted efforts in recent years to support its startup ecosystem. Due to the $4 billion in new funds that Australian venture capital firms raised over the past five years, it has been a fortunate time for venture capital growth.

According to Statistica data, 345,520 new businesses have opened in Australia over the past year, with firms in artificial intelligence (AI) dominating the startup environment.

With the online collaboration platform Atlassian currently making $200 million a year at a $3 billion value, the area is already producing some significant triumphs. Then there is the email marketing firm Campaign Monitor, which we have been following for a while. In April, it raised a whopping $250 million in its initial fundraising round.

About $300 million in funding for Australian internet startups has been monitored during the past year. Here, we’ve selected 10 tech businesses from the area that may catch the attention of Australian stock traders. These companies are ready to disrupt everything from energy to fashion.

RealAR

Year Founded: 2019

HQ: Gold Coast, Queensland, Australia

Size: 1-10

Founders: Dan Swan, Keith Ahern

The owners of both commercial and residential properties may now more easily understand floor layouts, according to Colliers International, a global provider of real estate services that have co-invested in speeding up Australian start-up RealAR to produce affordable visualization tools on a global scale and improve purchasers’ comprehension of precisely what they are contracting.

RealAR is an Australian 3D technology start-up that works with augmented reality software. The software is designed for use in real estate and allows sellers and buyers to envision a property before it is built. 3D plans can be viewed through their app, so customers can understand the layout of the physical spaces.

Residential owners can also picture how outside vistas and streetscapes will affect their new house or modifications, which may give them the extra confidence they need to make a purchase.

RealAR doesn’t need expensive equipment and can quickly turn flat floor plans or models made in standard 3D formats into virtual experiences that can be seen on mobile devices.

They were founded in 2019 and with one seed funding round, the company raised $120,000. RealAR has two investors funding the start-up Dan Swan and Keith Ahern.

Splashup

Year Founded: 2021

HQ: Sydney, New South Wales, Australia

Size: 1-10

Founders: Nathalie Rafeh, Vivek Bharadwaj

Splashup, an AI-powered digital shopping platform, has just received $150,000 in investment as the Xccelerate21 program’s winner. Through x15, a partnership between the Commonwealth Bank of Australia (CBA) and Xccelerate21, experienced business owners and founders of early-stage startups are supported.

Data and tales both have an impact on investors’ decision-making. And Bhardwaj and Rafeh contributed it. The team finished in the top five to present their case for the 150,000 dollars following a frantic and tough fight among 80 entrepreneurs, some of whom are well-known figures.

Vivek Bharadwaj, who is also the co-founder of Splashup, is ecstatic. According to him, hard times were also the birthplace of businesses like Spotify, Airbnb, and others ones. He senses the responsibility’s weight at the same moment. We need to produce results because everyone is watching.

Splashup received $310K Australian over one funding round and they have two investors. The start-up was founded by Nathalie Rafeh and Vivek Bharadwaj in 2021. The company has 1-10 employees and has its headquarters in Sydney Australia.

WLTH

Year Founded: 2020

HQ: Brisbane, Australia

Size: 11-50

Founders: Brodie Haupt, Drew Haupt

Their service is based on an entirely online application process called the “Lending Loop” that allows anyone to apply for a house loan in just five simple steps and less than 15 minutes. The company provides a digital financial platform that makes it easier for customers to get access to personal finance and the company also provides an array of solutions for businesses that includes lending, merchant facilities and more.

Since we all are aware of how taxing a mortgage may be, WLTH’s main goal is to offer customers low rates and excellent service. Faster approval times are WLTH’s goal, along with hassle-free and speedy application processes. For every loan that is paid off, WLTH and Parley for the Oceans work together to clean up 50m2 of the Australian ocean and coastline.

WLTH is an Australian startup that was founded in 2020 and is currently headquartered in Brisbane, Australia. Since the business was founded, it has seen good success in attracting outside investment for growth and development. Across two rounds of funding, the business has managed to raise a total of $17.2 million to get business to the next level.

YouPay

Year Founded: 2020

HQ: Springwood, Australia

Size: 11-50

Founders: Matt Holme

Global retail e-commerce sales in 2020 amounted to US$4.28 trillion, and in 2022, it is expected that these sales will increase to US$5.4 trillion. Nevertheless, 88% of carts are left unattended, resulting in US$39 trillion in lost revenue annually.

To alleviate this waste and lessen the amount of unwrapped Christmas presents, YouPay, a Brisbane-based fintech business, has developed a novel solution that isolates the paid from the recipient at the checkout.

Recently launched on online street fashion behemoth and eCommerce success story Culture Kings, the company’s ground-breaking eCommerce solution enables online shoppers to fill their carts and instantly send them to someone else to make purchases on their behalf. In the coming months, the solution is expected to be integrated into the eCommerce platforms of about 250 other brands that have registered their intent to offer it.

YouPay’s cooperative approach to online shopping provides a solution to a dilemma that many consumers face every day: how can you swiftly buy the goods you need or want when someone else is responsible for their payment?

For consumers, YouPay’s solution eliminates inefficiencies in the shopping process for a variety of use cases, including purchases from parents, partners, friends, professionals, employers, charities, and more. It also enhances conversions for eCommerce platforms. You can make these purchases using any of the payment options the business typically provides to its customers.

According to research from The Australia Institute, 30% of Australians anticipate receiving a Christmas gift they won’t use, which results in an annual waste of $980 million in gifts that are typically thrown in the trash.

YouPay is a startup in Australia that was founded in 2020 and is currently located in Springwood, Australia. The company provides a solution for collaborative shopping. Users can shop on the Internet and then send their cart to another person so that they can pay. This is perfect for making it easier to share the cost of shopping and getting gifts.

It has already attracted a good amount of outside investment. For example, the company has gone through two rounds of funding as it stands, with the most recent round being worth $2.9 million.

 Loam Bio

Year Founded: 2019

HQ: Orange, New South Wales, Australia

Size: 11-50

Founders: Guy Hudson

Another Australian startup to keep an eye on is Loam Bio. The company creates technology to address the climate crisis while working in the biotechnology sector. Their technology focuses on inoculating crops using symbiotic bacteria. Their cutting-edge microbiology research will increase agricultural productivity while lowering carbon emissions. The power of bacteria is being studied by Loam Bio, which is also creating technologies to make it easier to use them to create food and life-saving medications.

A company that creates microbial carbon sequestration technology with the goal of replenishing soil carbon. The company’s technology enables farmers to improve the host plant’s fertility and resistance to disease as well as help the soil around the plant’s roots store carbon more effectively, resulting in better quality soil for future planting. Symbiotic microorganisms that live in a mutualistic relationship with crops and build organic carbon in the soil can be inoculated into crops using this technology.

Some of the top climate-tech investors in the world have invested $40 million in a soil biology firm with headquarters in Orange, New South Wales.

The business has demonstrated its technique on a modest scale, and they are now prepared to use the funds at a commercial scale to demonstrate that its methodology for improving soil’s potential to sequester carbon may significantly affect global carbon drawdown.

Guy Hudson founded Loam Bio in 2019 and has managed to raise $50 million in funding. This was raised in two funding rounds, the first in 2020 and the second in 2021. The company’s headquarters are in Orange, New South Wales, Australia and they have 11-50 employees.

6clicks

Year Founded: 2019

HQ: Melbourne, Victoria, Australia

Size: 11-50

Founders: Andrew Robinson, Anthony Stevens, Louis Strauss

To automate and manage risk assessment, risk management, and compliance, there is a cloud-based platform called 6clicks. You may design, send, and receive assessments using the 6clicks platform to guarantee continuing compliance both inside and outside of your organisation.

The 6clicks proposition is in high demand, which is advancing the situation. The company’s configurable solutions come with pre-existing regulatory frameworks, templates, and libraries for risk assessment, as well as an app to monitor risk and a news site (called 6clicks Pulse) for the most recent regulatory developments.

A dynamic and unstable global regulatory framework, supported by regtech and compliance technology, serves as fuel for this claim. According to Stevens, the global market is currently worth about US$31 billion and is projected to grow to US$88 billion by 2027. And even before the pandemic, this was already trending upward.

In addition to the $2.2 million raised in July of last year, 6clicks has now raised $5 million in a fresh investment round. With the additional funding, the RegTech startup—founded by former KPMG advisors—plans to embark on a global expansion drive.

Melbourne-based, A cloud-based technology firm called 6clicks is designed to automate every step of the risk management process, from assessment to compliance. In conjunction with former KPMG digital consultant Louis Strauss, former partner and chief digital officer Anthony Stevens, and TrustyGate founder Andrew Robinson, the company was created in 2019.

The company’s headquarters are in Melbourne, Victoria, Australia and is made up of around 11 to 50 employees. The founders are Andrew Robinson, Anthony Stevens, and Louis Strauss and they founded the organisation in 2019. Since then, they have managed to gain $8 million Australian in funding, in four funding rounds.

Vacaay

Year Founded: 2019

HQ: Sydney, New South Wales, Australia

Size: 11-50

Founders: Pete McKeon

Despite the industry’s uncertainties during the pandemic, consumers have flocked to Vacaay’s entertaining and cutting-edge travel discovery platform to start planning their vacations well in advance. The company added an astounding 100,000 new members in its first 30 days.

The first of its type in the travel industry, Vacaay delivers curated travel content unlike ever before with a user-friendly mobile app and responsive travel media platform. Travellers can easily explore thousands of breathtaking locations around the globe with a swipe of their smartphone thanks to Vacaay, which enables them to find incredible locations they might not have otherwise thought to visit.

The innovative new platform is proving to be incredibly popular, especially among its target demographic of tech-savvy travellers between the ages of 25 and 45, with users exploring more than 75,000 locations in a single day.

Vacaay is a technology platform that works in the travel industry. The business provides organisations with the ability to enlarge their reach, gaining new audiences and customers. It does this by collecting data about consumer travel behaviours. Holidayers can visit the Vacaay website and create an itinerary which then helps tourism boards prepare and refine their marketing strategy. The website is made up of promotional content for different places in the world, to inspire the consumer on where to travel.

Vacay was founded in 2019 by Pete McKeon. It has its headquarters in Sydney, New South Wales, Australia and has around 11 to 50 employees. The tech company has raised $250,000 from one funding round in October 2019.

MGA Thermal

Year Founded: 2019

HQ: Newcastle, New South Wales, Australia

Size: 1-10

Founders: Alexander Post, Dylan Cuskelly, Erich Kisi

MGA Thermal is an Australian tech start-up in the thermal storage industry. MGA stands for Miscibility Gap Alloys and these are the basis for the company. MGA Thermal provides customers with an economical and efficient way of storing energy and heating. The miscibility gap alloys are what store the energy and are stacked into storage tanks. It is a renewable alternative for energy storage and is scalable.

The Australian Renewable Energy Agency (ARENA) has awarded MGA Thermal, an Australian sustainable energy firm, AUS$1.27 million (USD$900,000) to expand its thermal energy storage technology.

The grant will contribute to the installation of a 5MWh medium duration thermal energy storage pilot to show off charging and discharging capacities of up to 500kW while also generating steam from the thermal energy stored.

Specifically created (MGA) blocks from the company capture and store thermal energy from either renewable electricity or industrial waste heat.

With little energy loss, the MGA blocks can hold heat for times of hours to days. A transfer gas is used in heat exchangers to absorb heat from MGA blocks, and the heated gas or fluid can be used for industrial heating purposes or to power a steam turbine to produce electricity.

Using this energy, direct heat is produced for use in industrial settings or steam is produced to power turbines.

According to MGA Thermal, this approach can be utilised to convert thermal storage-equipped coal-fired power stations into cleaner baseload power sources, preventing the closure of these facilities in the process.

The founders of MGA Thermal are Alexander Post, Dylan Cuskelly, Erich Kisi. Its headquarters are in Newcastle, New South Wales, Australia and there are 1 to 10 employees. Since it was founded in 2019, the business has raised $6.3 million in three funding rounds.

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