Industries with the Largest Number of Businesses in Australia in 2021

1. Self-Managed Superannuation Funds in Australia

Number of Businesses for 2021: 615,221

The Self-Managed Superannuation Funds industry's assets have continued to grow over the past five years, albeit at a slower rate than over the previous five years. Industry assets are expected to increase at an annualised 1.9% over the five years through 2020-21, to $759.7 billion. Industry revenue is anticipated to increase at an annualised 1.1% over the same period, to $45.0 billion. As with any superannuation fund, SMSF revenue is highly volatile as it consists of investment income and the industry is highly exposed to equity markets. This has been highlighted by the significant downturn in global sharemarkets following the... Learn More

2. Professional Services in Australia

Number of Businesses for 2021: 225,337

The Professional Services subdivision provides various professional, scientific and technical services to a range of markets. The subdivision's performance is largely linked to overall economic conditions, which often determine business confidence and capital expenditure. Prior to the COVID-19 outbreak, technology development and greater business profit drove growth across the subdivision. Over the three years through 2018-19, accounting and management consultants benefited from downstream businesses looking to improve efficiencies as increased globalisation constrained profit margins. The COVID-19 pandemic has negatively affected the subdivision's largest industries, including the Engineering Consulting industry, the Management Consulting industry and Accounting Services industry. The subdivision is... Learn More

3. Health Services in Australia

Number of Businesses for 2021: 127,680

The Health Services subdivision includes a range of health services and facilities. General hospitals are the subdivision's largest revenue driver, accounting over half of Australia's health services revenue. General practitioners, clinical specialists and dentists also represent significant revenue streams for the subdivision. Australia's growing and ageing population has generated strong demand for health services over the past five years. However, the outbreak of COVID-19 in early 2020 has limited subdivision expansion, as health services have redirected resources to containing the virus. Consequently, subdivision revenue is expected to grow at an annualised 1.5% over the five years through 2020-21, to $162.5... Learn More

4. Management Consulting in Australia

Number of Businesses for 2021: 72,365

Revenue for the Management Consulting industry has contracted over the past five years. Industry players provide a variety of services, including financial advisory, strategic planning and operations consulting, to different markets such as financial institutions, government bodies, energy and resource firms and consumer product businesses. When business confidence is high, businesses generally seek management consultants for advice regarding expansion opportunities. In contrast, challenging economic conditions generally dampen demand for industry services. However, challenging economic conditions can also increase demand for risk management and business planning services. Mostly positive business confidence drove revenue growth over the early part of the past... Learn More

5. Consumer Goods Retailing in Australia

Number of Businesses for 2021: 70,716

The Consumer Goods Retailing subdivision has been subject to difficult retail conditions over the past five years. Weak disposable income growth and volatile consumer sentiment due to unstable economic conditions have resulted in a poor trading landscape, as households have scaled back their expenditure on non-essential goods. In addition, the rising popularity of online shopping has contributed to a fall in retail demand for many consumer goods over the period, such as photographic equipment, video games and recorded music, newspapers and books and stationery goods.

Subdivision operators have struggled with growing competition from online-only retailers, as consumers have become increasingly comfortable... Learn More

6. Online Shopping in Australia

Number of Businesses for 2021: 67,140

The Online Shopping industry has grown dramatically over the past five years. Rapid growth in internet and broadband penetration and consumer acceptance of electronic commerce as a viable and safe alternative to traditional bricks-and-mortar retailing have aided online shopping. Industry operators have benefited from consumers seeking variety and value, particularly in a period of declining discretionary incomes over the past five years. Online shopping offers unprecedented choice through highly competitive prices and a lack of geographical boundaries. Industry revenue is expected to grow at an annualised 13.6% over the five years through 2020-21, to $34.5 billion. This includes anticipated revenue... Learn More

7. Office Property Operators in Australia

Number of Businesses for 2021: 60,081

Operating conditions in the Office Property Operators industry have been volatile over the past five years. Prior to the outbreak of COVID-19 in 2019-20, solid demand from superannuation funds looking to benefit from steady long-term returns had supported the industry. Additionally, the gradual shift to a serviced-based economy over the past five years had increased the amount of non-manual employees in the workforce, and therefore demand for office floorspace. However, tenants have moved from premium-grade offices towards A-grade and B-grade offices over the period, due to rising rental costs. Furthermore, the popularity of hot desking and shared office spaces has... Learn More

8. Computer System Design Services in Australia

Number of Businesses for 2021: 54,170

The Computer System Design Services industry consists of businesses that develop and implement information technology services, programming systems and business solutions. Despite the COVID-19 pandemic, the industry has expanded strongly over the past five years, as many businesses have outsourced non-essential systems operations, and computers and IT systems have required regular upgrades and enhancements. Furthermore, increased internet connectivity has driven the industry's growth over the period, with financial services providers such as banks and insurers remaining the industry's largest clients.

Due to strong demand, industry revenue is expected to increase at an annualised 4.8% over the five years through 2020-21, to... Learn More

9. Residential Property Operators in Australia

Number of Businesses for 2021: 52,184

Residential property operators are companies or individuals that draw income from renting out residential property. Industry demand is mainly driven by the number of households that do not own residential property, as these households have to rent property from industry operators. Although home ownership has traditionally been a priority for many Australians, housing price growth over the past five years has made it harder for consumers to save for a deposit and service increasingly costly mortgages. This trend has decreased the overall proportion of the population that owns the home they live in, supporting industry demand. Industry operators respond to... Learn More

10. General Practice Medical Services in Australia

Number of Businesses for 2021: 47,504

General practitioners (GPs) are the first point of contact in the medical system, providing direct treatment to patients, diagnosing health problems and referring patients to specialists or general hospitals. The age profile of Australia's population is a strong demand determinant for general practice medical services. Australia's population has been ageing rapidly, as more people born in the post-war period have reached retirement age. This trend has supported industry growth over the past five years, as older individuals often experience health concerns, such as chronic illness and minor ailments, with greater frequency than younger patients.

Revenue for the General Practice Medical Services... Learn More