Industries with the Largest Number of Businesses in Australia in 2020

1. Self-Managed Superannuation Funds in Australia

Number of Businesses for 2020: 618,872

The Self-Managed Superannuation Funds industry's assets have continued to grow over the past five years. Industry assets are expected to increase at an annualised 5.7% over the five years through 2019-20, to $839.1 billion. Industry revenue is anticipated to decline at an annualised 0.5% over the same period, to $51.0 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. Industry revenue is anticipated to increase by 4.2% in the current year due to growth in the All Ordinaries index.

The popularity of SMSFs can... Learn More

2. Professional Services in Australia

Number of Businesses for 2020: 226,376

The Professional Services subdivision provides various professional, scientific and technical services to a range of markets. The subdivision has moderately expanded over the past five years. Of all the industries in the subdivision, the Scientific Research Services industry has exhibited the strongest revenue growth. Additionally, the subdivision's largest industries, the Engineering Consulting, Management Consulting, Legal Services and Accounting Services industries have all modestly grown over the past five years, contributing to the subdivision's overall growth. As a result, subdivision revenue is expected to increase at an annualised 1.5% over the five years through 2018-19, to reach $165.2 billion. This includes... Learn More

3. Health Services in Australia

Number of Businesses for 2020: 117,797

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, combined with expanding private health insurance coverage, is expected to generate strong demand for health services over the five years through 2018-19. Rising demand has primarily driven revenue growth, as inflation has outpaced increases in Medicare benefits per service and schedule fees in some industries. Health services revenue is expected to grow at... Learn More

4. Consumer Goods Retailing in Australia

Number of Businesses for 2020: 72,852

The Consumer Goods Retailing subdivision has been subject to tough 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 scaled back their expenditure on non-essential goods. In addition, the rise in 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 intensifying competition from online-only retailers, as consumers have become increasingly comfortable with making... Learn More

5. Management Consulting in Australia

Number of Businesses for 2020: 71,721

The Management Consulting industry has displayed strong growth over the past five years due to positive business confidence and rising demand from the public sector. Despite declines in private capital expenditure, the diverse services of management consulting have supported industry revenue. Industry players provide a variety of services such as financial advisory, strategic planning and operations consulting to different markets including financial institutions, the government, energy and resource firms and consumer product businesses. During times of high business confidence, businesses generally seek management consultants for advice regarding expansion opportunities. In contrast, challenging economic conditions generally dampen demand for industry services.... Learn More

6. Office Property Operators in Australia

Number of Businesses for 2020: 64,237

The Office Property Operators industry has grown strongly over the past five years. Demand for office space, and therefore commercial property values, have increased over the period. This increased demand has driven greater development of new office spaces, as both local and international investors have sought to access increased rental yields. Pension funds, sovereign wealth funds and local superannuation funds have invested heavily in office property to benefit from steady long-term returns.

Industry revenue is expected to grow at an annualised 6.1% over the five years through 2019-20, to $40.1 billion. This trend includes expected growth of 3.5% in the current... Learn More

7. Online Shopping in Australia

Number of Businesses for 2020: 57,409

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 subdued discretionary income growth and volatile consumer sentiment 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 14.3% over the five years through 2018-19, to $23.7... Learn More

8. Computer System Design Services in Australia

Number of Businesses for 2020: 53,751

The Computer System Design Services industry consists of businesses that develop and implement information technology services, programming systems and business solutions. The industry has steadily expanded over the past five years, as many businesses have been outsourcing 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 3.4% over the five years through 2019-20, to reach $57.9 billion.... Learn More

9. Residential Property Operators in Australia

Number of Businesses for 2020: 51,276

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 residential property from industry operators. Although home ownership has traditionally been a priority for many Australians, strong 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, increasing industry demand. Industry operators... Learn More

10. Retail Property Operators in Australia

Number of Businesses for 2020: 48,555

Strong investor demand for retail property has boosted property values and driven revenue growth in the Retail Property Operators industry over the past five years. However, the retail sector has faced some significant challenges over the period that have dampened growth for some industry operators. Competition from online retailers and an oversupply of retail property in some locations have presented key challenges for the industry over the past five years. Vacancy rates have improved, but this trend is partly due to an increase in long-term leasing agreements.

Industry revenue is expected to increase at an annualised 7.4% over the five years... Learn More