24 Best Business Ideas in Australia

Australia's dynamic economy offers a wealth of opportunities for aspiring entrepreneurs. Whether you're tech-savvy, creative, or people-oriented, there's a business idea that could be perfect for you.

This guide covers 24 promising options to help you get started on your entrepreneurial journey in Australia.

Each idea comes with insights on market demand, startup considerations, and potential for growth to give you a head start in your business planning.

Let’s dive in!

1. Online Retailing

You can tap into the booming e-commerce market by starting your own online store.

With low overhead costs and a global reach, you can sell products directly to consumers. The growing preference for online shopping makes this an attractive option for tech-savvy entrepreneurs.

📊 Market Insight: Australian eCommerce is set to hit $35.92B in 2024, with 8.33% CAGR driving it to $49.47B by 2028. Online retail in Australia shows robust, sustained growth.

💡 Startup Tip: Focus on niche products or locally-made items to stand out in the crowded marketplace.

📈 Growth Potential: Expand your product range or target international markets as you establish your brand.

2. Dropshipping

Launch an e-commerce business without the hassle of inventory management.

As a dropshipper, you'll sell products that are shipped directly from suppliers to customers. This low-risk model allows you to sell a wide range of products with minimal to none upfront investment.

📊 Market Insight: Global dropshipping market expected to reach $351.8B in 2024, showing substantial growth and increasing importance in ecommerce landscape.

💡 Startup Tip: Choose reliable suppliers and focus on excellent customer service to build your reputation.

📈 Growth Potential: As you gain experience, consider creating your own branded products to increase profit margins.

3. Affiliate Marketing

Create income by recommending products or services from various businesses. Build a robust digital presence and use smart marketing to develop steady revenue streams.

Focus on areas that match your passions and knowledge for best results.

📊 Market Insight: Australia's affiliate marketing sector, though relatively new, is rapidly gaining traction with 72% of organizations reporting higher ROI compared to other channels, particularly for new customer acquisition.

💡 Startup Tip: Start with a blog or YouTube channel focusing on product reviews and comparisons in your chosen niche.

📈 Growth Potential: Diversify your affiliate partnerships and explore creating your own digital products.

4. Freelancing

Capitalize on your skills by offering services as a freelancer.

From writing to web development, the gig economy is thriving in Australia. Enjoy the flexibility of working remotely and choosing projects that align with your expertise.

📊 Market Insight: Global freelance platforms market set to reach $9.2 billion by 2025, with a robust CAGR of 15.3% from 2020, indicating strong growth in the gig economy sector.

💡 Startup Tip: Create a strong portfolio and leverage platforms like Upwork or Fiverr to find initial clients.

📈 Growth Potential: Specialize in high-demand skills or transition into building your own agency as you grow.

5. Online Teaching

Share your knowledge with students across Australia and beyond.

Whether you're tutoring in academic subjects or offering professional skills training, online teaching allows you to reach a wide audience while enjoying a flexible schedule.

📊 Market Insight: The Australian online education market is projected to generate $4.41 billion in revenue in 2024, with online university education accounting for $4.03 billion, and an average revenue per user of $740.

💡 Startup Tip: Create engaging video content and interactive materials to stand out in the competitive online education space.

📈 Growth Potential: Develop your own course platform or expand into corporate training programs.

6. Graphic Design

Turn your creativity into a thriving business.

With the high demand for visual content in marketing and branding, skilled graphic designers are always in demand. Start your own studio or work as a freelancer for various industries.

📊 Market Insight: The global graphic design market size reached $49.13 billion in 2024, with trends indicating continued growth in the sector for the coming years.

💡 Startup Tip: Develop a distinctive style and focus on building a strong online portfolio to attract clients.

📈 Growth Potential: Expand your services to include branding consultancy or digital marketing strategies.

7. Gaming Development Company

Dive into Australia's growing gaming industry by starting your own development company. Create engaging games for mobile, PC, or console platforms. With the rise of indie games, there's endless opportunity for innovative developers to make their mark.

📊 Market Insight: Australia's video game market is projected to reach $3.02 billion in 2024, with a 9.81% CAGR driving it to $4 billion by 2027, alongside an expected user base of 10 million.

💡 Startup Tip: Start with mobile game development to minimize initial costs and reach a wider audience.

📈 Growth Potential: Expand to larger, more complex games or explore virtual reality (VR) and augmented reality (AR) gaming.

8. Cleaning Business

Start a cleaning business catering to residential or commercial clients.

With low startup costs and consistent demand, you can build a reliable customer base. Offer specialized services or eco-friendly options to stand out in the market.

📊 Market Insight: The Australia and New Zealand cleaning services market, valued at $13.52 billion in 2021, is expected to grow at a 4.30% CAGR from 2024 to 2032, reaching approximately $17.4 billion by 2027.

💡 Startup Tip: Invest in quality, eco-friendly cleaning supplies and focus on building a reputation for reliability.

📈 Growth Potential: Expand into specialized cleaning services like disaster restoration or industrial cleaning.

9. Personal Training

Help Australians achieve their fitness goals by becoming a personal trainer.

With growing health awareness, there's a constant demand for fitness coaching. Offer sessions in gyms, parks, or even online to cater to different client preferences.

📊 Market Insight: Australia's health and fitness industry shows strong growth, with a $292 million revenue in 2022, nearly half of young adults regularly using gyms, and a projected 3.7% industry growth from 2019 to 2024.

💡 Startup Tip: Get certified and specialize in a particular type of training or demographic to differentiate yourself.

📈 Growth Potential: Open your own fitness studio or develop online training programs and apps.

10. Photography

Capture moments and create visual stories through your photography business.

From weddings to corporate events, there's always a need for skilled photographers. Specialize in a niche or offer a range of services to diverse clients.

📊 Market Insight: Australia's Professional Photographic Services industry is expected to reach a market size of $1.2 billion in 2024, showing a modest 0.31% growth from the previous year.

💡 Startup Tip: Build a strong portfolio and leverage social media to showcase your work and attract clients.

📈 Growth Potential: Expand into videography or offer photography workshops and courses.

11. Consultant

Leverage your expertise by offering consulting services to businesses.

Whether it's in marketing, operations, or IT, companies are always seeking specialized knowledge. Build a reputation as a problem-solver in your field and watch your client base grow.

📊 Market Insight: The Australian management consulting industry's revenue is projected to reach $4.8 billion in 2024, despite experiencing a 1.9% CAGR decline over the past five years.

💡 Startup Tip: Focus on a specific industry or problem area to establish yourself as an expert in that niche.

📈 Growth Potential: Build a team of consultants to offer a wider range of services or develop proprietary methodologies.

12. Pet Services

Tap into Australia's love for pets by offering grooming, walking, or pet-sitting services.

With busy lifestyles, pet owners are always looking for reliable care for their furry friends. Build a loyal clientele in your local community.

📊 Market Insight: Australian pet industry thrives with $22 billion annual spending, of which $3.79 billion (60%) is dedicated to the pet food market, highlighting significant consumer investment in pet care.

💡 Startup Tip: Get certified in pet first aid and offer personalized care plans to differentiate your services.

📈 Growth Potential: Open a pet daycare center or expand into pet product sales.

13. Babysitting

Provide reliable childcare services to busy Australian families.

With flexible hours and the potential for steady work, babysitting can be a rewarding business. Build trust with parents and create a safe, fun environment for children.

📊 Market Insight: Australia's Babysitting and Other Personal Services industry, encompassing various childcare options, is projected to reach a market size of $3.2 billion in 2024.

💡 Startup Tip: Get certified in childcare and first aid, and consider specializing in care for specific age groups.

📈 Growth Potential: Expand into running a home-based daycare or offering specialized services like bilingual childcare.

14. Network Security

Protect Australian businesses from cyber threats by offering network security services.

As digital threats evolve, companies need expert protection for their data and systems. Stay updated with the latest security trends to provide cutting-edge solutions.

📊 Market Insight: Australia's network security market is set to reach $225.80 million in 2024, with a 9.94% CAGR driving it to $362.60 million by 2029.

💡 Startup Tip: Obtain relevant certifications and focus on educating clients about the importance of cybersecurity.

📈 Growth Potential: Develop proprietary security software or expand into offering comprehensive IT services.

15. Catering

Showcase your culinary skills by starting a catering business.

From corporate events to weddings, there's always demand for quality food services. Offer unique menu options or specialize in specific cuisines to stand out in the market.

📊 Market Insight: Australia's catering services industry is projected to generate $9.5 billion in revenue in 2024, with trends indicating continued growth in the sector for the following years.

💡 Startup Tip: Start with a specific niche, like healthy corporate lunches or themed event catering, to build your reputation.

📈 Growth Potential: Expand into event planning services or open your own restaurant.

16. Coaching

Guide others towards their personal or professional goals as a coach.

Whether it's life coaching, business coaching, or career coaching, there's a growing demand for personal development services. Develop your unique coaching style and build a loyal client base.

📊 Market Insight: The global coaching industry is expected to reach $6.25 billion in 2024, indicating strong growth and increasing demand for coaching services worldwide.

💡 Startup Tip: Get certified and develop a unique coaching methodology to differentiate yourself in the market.

📈 Growth Potential: Create online courses or write self-help books to reach a wider audience.

17. Aged Care Services

Address the needs of Australia's aging population by providing in-home care or specialized services for the elderly. This rewarding business allows you to make a meaningful impact while catering to a growing demographic.

📊 Market Insight: Australia's aged care market grew in 2023: Home Care users up 20%, Residential Care up 2.4%, despite industry challenges and consolidation.

💡 Startup Tip: Focus on personalized care plans and build relationships with local healthcare providers for referrals.

📈 Growth Potential: Expand into running a residential care facility or developing assistive technologies for the elderly.

18. Subscription Box Curation

Create unique subscription boxes tailored to Australian tastes and interests.

From local gourmet foods to Aussie-made crafts, curate boxes that deliver regular doses of excitement to subscribers' doorsteps.

📊 Market Insight: The global subscription box market is set to grow from $31.4 billion in 2023 to $36.8 billion in 2024, with a CAGR of 17.2%.

💡 Startup Tip: Start with a specific niche and focus on sourcing unique, high-quality local products.

📈 Growth Potential: Expand your product range or create themed limited-edition boxes for special occasions.

19. Laundromat

Open a laundromat to provide essential services to your community.

With the right location and modern equipment, you can create a reliable business with steady income. Consider offering additional services like dry cleaning or wash-and-fold to increase revenue.

📊 Market Insight: Australia's Laundry Care market is expected to reach $0.98 billion in revenue by 2024, with a projected annual growth rate of 4.65% through 2029.

💡 Startup Tip: Invest in energy-efficient machines and consider offering 24/7 service to attract more customers.

📈 Growth Potential: Expand to multiple locations or offer pickup and delivery services.

20. Digital Ebook Library

Tap into the digital reading trend by creating an online ebook library.

Offer a wide range of titles across genres to attract diverse subscribers. With the right platform and licensing agreements, you can build a thriving digital business.

📊 Market Insight: The global ebook market is expected to reach $17.20 billion in 2024, with projections indicating growth to $21.73 billion by 2029, at a CAGR of 4.78%.

💡 Startup Tip: Focus on niche genres or local authors to differentiate your library from larger competitors.

📈 Growth Potential: Expand into audiobooks or create a platform for self-published authors.

21. Homemade Products

Turn your hobby into a business by selling homemade products.

Whether it's crafts, baked goods, or skincare items, there's a market for unique, handcrafted items. Leverage online marketplaces and social media to reach customers across Australia.

📊 Market Insight: The Australian arts and crafts market, covering diverse creative fields like painting, sculpture, pottery, and textile arts, is projected to reach a value of $0.98 billion in 2024.

💡 Startup Tip: Start with a signature product and build your brand around its unique qualities.

📈 Growth Potential: Expand your product line or open a physical store to showcase your creations.

22. Bookkeeping

Offer essential financial services to small businesses as a bookkeeper.

With the right certifications and attention to detail, you can build a steady client base. Embrace digital tools to provide efficient, accurate services to your clients.

📊 Market Insight: Australia's Accounting Services industry is valued at $11.9 billion in 2024, with bookkeeping services contributing $4.8 billion, despite experiencing a 1.9% CAGR decline over the past five years.

💡 Startup Tip: Get certified and specialize in specific industries or accounting software to stand out.

📈 Growth Potential: Expand into offering full accounting services or develop your own financial management software.

23. Car Washing

In a bid to serve Australian car owners, it's essential to meet the demand for clean vehicles, whether through a fixed location or a mobile service.

Consider offering eco-friendly options to attract environmentally conscious customers.

📊 Market Insight: The Australian Car Wash and Detailing Services industry is expected to reach a market size of $591.0 million in 2024.

💡 Startup Tip: Offer a mobile service to differentiate yourself and cater to busy professionals.

📈 Growth Potential: Expand to multiple locations or diversify into auto detailing services.

24. Specialized Cleaning Services

Go beyond general cleaning by offering specialized services like carpet cleaning, window washing, or industrial cleaning.

Target specific markets or industries to become the go-to expert in your niche.

📊 Market Insight: The Australian commercial cleaning services market is set to grow at a 5.9% CAGR from 2024 to 2032, with 32,421 businesses currently employing about 151,300 people in the sector.

💡 Startup Tip: Invest in specialized equipment and get certified in your chosen niche to build credibility.

📈 Growth Potential: Expand your services to cover multiple specialized cleaning areas or develop your own cleaning products.

Conclusion

Australia's diverse economy and entrepreneurial spirit offer fertile ground for new businesses. From digital ventures to hands-on services, there's an opportunity for every skill set and interest. Remember, success comes to those who identify a need in the market and fulfill it with passion and dedication.

And, as you embark on your entrepreneurial journey, managing your finances effectively will be crucial to your success.

This is where ANNA comes in as an all-in-one solution for managing finances for small businesses and sole traders in Australia. 

ANNA: Your Financial Management Partner

ANNA offers a comprehensive suite of services designed to simplify your business operations:

1. Easy Company Registration: ANNA takes care of setting up your business hassle-free, allowing you to focus on your core operations.

2. Business Document Management: Store receipts, invoices, and company documents in one place. ANNA's smart system matches transactions, extracts key details, and ensures everything is easy to find and share.

3. Automatic Tax Calculations: Gain peace of mind with up-to-date tax reporting and optimize your tax bill. ANNA provides clear insights into your upcoming tax obligations based on your business expenses and income.

4. Personalized Tax Calendar: Never miss a tax deadline. ANNA ensures timely compliance with all your tax obligations by providing a customized tax calendar.

5. Expert Accountant Support: ANNA's friendly support team is always ready to answer any questions you may have, providing you with expert guidance when you need it most.

With determination, the right approach, and tools like ANNA at your disposal, you're well-equipped to navigate the challenges and seize the opportunities in Australia's vibrant business landscape.

Ready to get started?

Sign up with ANNA to streamline your financial management, stay compliant with the law, and focus on growing your business.