Industries with the Largest Number of Businesses in Australia in 2022

1. Self-Managed Superannuation Funds in Australia

Number of Businesses for 2022: 602,607

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 3.3% over the five years through 2021-22, to $874.1 billion. However, industry revenue is anticipated to decline at an annualised 2.3% over the same period, to $73.7 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 volatility in global sharemarkets throughout... Learn More

2. Professional Services in Australia

Number of Businesses for 2022: 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. Over the past five years, greater business profit, rising capital expenditure by the public sector and mostly positive business confidence have supported subdivision demand. However, the COVID-19 pandemic has disrupted several industries in the Professional Services subdivision, weighing on the subdivision's performance. In particular, demand for engineering consulting, architectural services, and surveying and mapping services have been constrained over the past three years during the COVID-19... Learn More

3. Health Services in Australia

Number of Businesses for 2022: 136,766

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 (GPs), clinical specialists and dentists also represent significant revenue streams for the subdivision. Australia's growing and ageing population has supported demand for health services over the past five years. However, the COVID-19 pandemic has limited subdivision expansion, as health services have redirected resources to contain the virus. Consequently, subdivision revenue is expected to grow at an annualised 2.2% over the five years through 2022-23, to $197.8 billion. The industry's growth... Learn More

4. Telehealth in Australia

Number of Businesses for 2022: 113,733

Telehealth has massively expanded in Australia in the wake of the COVID-19 pandemic, growing from niche services to a multi-billion-dollar industry. This has been largely due to the significant expansion of the Medicare Benefits Schedule (MBS) to support telehealth services during the COVID-19 pandemic. In addition, patients have been more likely to use telehealth services as a means to avoid contact and minimise the possibility of contracting COVID-19.

Prior to the outbreak of COVID-19, telehealth items on the MBS were severely restricted and were generally used only in limited circumstances. However, the Federal Government temporarily expanded the MBS to include telehealth... Learn More

5. Management Consulting in Australia

Number of Businesses for 2022: 83,284

The Management Consulting industry's revenue has risen over the past five years. Industry players provide a variety of services, including financial advice, strategic planning and operations consulting, to downstream markets such as financial institutions, government bodies and resource firms. Mostly positive business confidence over the past five years has supported business expansion and overall demand for industry services. The industry largely felt the negative effects of the COVID-19 pandemic in 2019-20, as many downstream clients limited discretionary spending due to economic uncertainty and government restrictions. However, business confidence and private capital expenditure recovered over the two years through 2021-22, driving... Learn More

6. Consumer Goods Retailing in Australia

Number of Businesses for 2022: 74,951

The Consumer Goods Retailing subdivision has been subject to volatile retail conditions over the past five years. The COVID-19 pandemic has caused economic uncertainty and restricted trading for extended periods in several Australian states. However, the pandemic has also prevented many consumers from spending money on hospitality and travel, allowing greater income to be spent on consumer goods. As a result, subdivision revenue is expected to increase at an annualised 2.4% over the five years through 2022-23, to $220.4 billion. This result includes an expected 7.8% decline in the current year, as easing COVID-19 restrictions increase competition for consumer spending... Learn More

7. Online Shopping in Australia

Number of Businesses for 2022: 69,887

The Online Shopping industry has grown dramatically over the past five years. Rapid growth in internet and broadband penetration, consumers accepting electronic commerce as a viable and safe alternative to traditional bricks-and-mortar retailing, and discretionary incomes have aided online shopping. Industry operators have benefited from consumers seeking variety and value, particularly as consumer sentiment has been volatile over the period. Online shopping offers unprecedented choice through highly competitive prices and a lack of geographical boundaries. Industry revenue is expected to grow at an annualised 18.1% over the five years through 2022-23, to $56.2 billion. Online retail penetration has increased rapidly... Learn More

8. Office Property Operators in Australia

Number of Businesses for 2022: 62,049

Trading conditions for the Office Property Operators industry have been volatile over the past five years. Increases in the number of non-manual employees in the workforce and total capital expenditure by the private sector have supported demand for offices. Record low interest rates have also benefited industry participants by ensuring cheap capital for acquiring and developing office property. However, fluctuations in business confidence and declines in demand from superannuation funds over the past five years have constrained industry performance. Periods of negative business confidence have discouraged expanding tenant's operations and reduced their demand for office space. Superannuation funds are major... Learn More

9. Computer System Design Services in Australia

Number of Businesses for 2022: 55,402

The Computer System Design Services industry consists of many 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 client businesses have outsourced non-essential systems operations, and as computers and IT systems have required regular upgrades and enhancements. Furthermore, greater internet connectivity has driven industry growth over the period, and financial services providers such as banks and insurers have remained the industry's largest clients.

Due to strong demand, industry revenue is anticipated to increase at an annualised 5.1% over the five years... Learn More

10. Residential Property Operators in Australia

Number of Businesses for 2022: 55,120

The Residential Property Operators industry involves renting or leasing out residential property. Industry demand is mainly driven by the number of households that do not own residential property and have to rent property from industry operators. Conditions have been generally favourable for the industry over the past five years. Residential housing prices have increased over the period, which has excluded many potential buyers and supported demand for industry services. However, the economic effects of the COVID-19 pandemic have constrained industry performance. Declines in residential property yields have constrained industry revenue streams and reductions in international arrivals of workers and students... Learn More