Industries with the Largest Number of Businesses in Australia in 2023

1. Self-Managed Superannuation Funds in Australia

Number of Businesses for 2023: 602,607

The Self-Managed Superannuation Funds industry's assets have continued growing in recent years. Industry assets have increased by an annualised 2.6% over the five years through 2022-23, to $899.5 billion. Revenue has inched upwards at an annualised 0.5% over the same period, to $58.9 billion. Like other superannuation funds, SMSF revenue is highly volatile as it's made up of investment income and SMSFs are highly exposed to equity markets. Significant volatility in domestic and international sharemarkets throughout the COVID-19 pandemic and more recent inflationary pressures have highlighted this variability. Revenue has surged by 255.7%, back to a positive value in 2022-23,... Learn More

2. Professional Services in Australia

Number of Businesses for 2023: 250,340

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 its performance. In particular, demand for architectural services, and surveying and mapping services fell over the years following the COVID-19 pandemic, as many construction projects were delayed... Learn More

3. Health Services in Australia

Number of Businesses for 2023: 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 2023: 113,733

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

Before the COVID-19 outbreak, 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 2023: 89,668

The Management Consulting industry is benefiting from mostly favourable operating conditions. Mostly positive business confidence has buoyed business expansion and overall demand for management consulting services. The pandemic wreaked havoc on management consultants in 2019-20, as many downstream clients sought to limit discretionary spending because of economic uncertainty and government restrictions. Nonetheless, business confidence and private capital expenditure recovered over the three years through 2022-23, spurring demand for management consultants. Revenue is expected to rise at an annualised 2.1% over the five years through 2022-23 to an estimated $47.3 billion. This trend includes an increase by an estimated 0.5% in... Learn More

6. Online Shopping in Australia

Number of Businesses for 2023: 83,095

Online shopping has become a way of life. Once considered a novelty, much like the internet itself, the online shopping phenomenon has surpassed business and consumer expectations alike. It has evolved and expanded rapidly, with escalating internet and broadband uptake and changing consumer attitudes helping online shopping to become a mainstream retail avenue. Greater investment in online platforms to improve website navigation, enhance security and improve delivery is fuelling the shift in consumer buying habits towards online shopping.

The outbreak of COVID-19 in March 2020 brought retail trading in Australia to a standstill thanks to lockdown periods and restrictions. Unable to... Learn More

7. Consumer Goods Retailing in Australia

Number of Businesses for 2023: 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

8. Office Property Operators in Australia

Number of Businesses for 2023: 58,760

Trading conditions have been challenging for the Office Property Operators industry. The number of non-manual employees in the workforce and private sector capital expenditure have been climbing, supporting overall demand. But fluctuating business confidence and reduced demand from superannuation funds have considerably dulled performance. The COVID-19 pandemic hit the financial outlook of many firms across the country; economic uncertainty led to negative business confidence, which discourage downstream customer firms from expanding their operations or acquiring office space. Superannuation funds invest a lot of money in office property, and lower demand from this market cut into the performance of office property... Learn More

9. Computer System Design Services in Australia

Number of Businesses for 2023: 58,572

The Computer System Design Services industry consists of many businesses that develop and implement information technology services, programming systems and business solutions. Despite the havoc caused by COVID-19 pandemic, the industry has expanded strongly in recent years, as many client businesses have outsourced non-essential systems operations, and as computers and IT systems have required regular upgrades and enhancements. Greater internet connectivity has fuelled industry growth, and financial services providers – including banks and insurers – have remained the industry's largest clients.

In response to robust demand, industry-wide revenue has been growing at an annualised 3.5% over the past five years and... Learn More

10. Residential Property Operators in Australia

Number of Businesses for 2023: 55,671

The Residential Property Operators industry involves renting or leasing out residential property. The number of households that do not own residential property – and therefore need to rent it from landlords – is the main driver of industry demand. Recently, the industry's performance has diminished, as high vacancy rates, eviction moratoriums during the COVID-19 pandemic and lower residential property yields have negatively affected property operators. Overall, industry revenue has slipped by 0.3% over the five years to 2022-23, to $54.1 billion. This trend includes a rise of 3.7% in 2022-23, as revenue recovers thanks to pandemic restrictions easing and borders... Learn More