Starting up a small business is not difficult, but ensuring the business attains success is dependant on a lot of factors. If your business is within a booming industry, chances are, you will make your mark.
Here we shall look into an interesting piece of information released by the Australian Invoicing business regarding the most lucrative industries for small business in 2018! Well, if you are not a business owner, you would also find this information useful if you wish to stay and work in Australia as this might really help you on landing the most ideal job which is aligned with your skills, aspirations and passion.
So are you ready to know the list? The top performers which have been discovered to be the driving force behind the SME sector in Australia include trade-based industries like glass and glazing, building and construction, pool and spa sectors. Research also finds that the auto repair industry as experiencing the biggest growth, billing 78% more in 2017 than it did in 2016. Next in the pecking order is small businesses dealing with building and construction where the billing amounts increase by 59% (YoY). Finally for those who operate in the landscaping industry saw billing growth of 58% (YoY). Such data could be deemed crucial for an economy that often relies on expertise in the tech and science sector and is in the middle of an immigration policy reform that could see even more professionals showcasing their skills following the launching of Global Talent Scheme Pilot. In fact, these industries is getting all the notice due to the increasing demand for properties and housing opportunities.
The above information was gathered by aggregating annual invoicing activity of more than 23,000 AU-based Invoice2go users. The ranking was determined by the average dollar amount invoiced per month by the local businesses in each industry from January to December 2017. With the introduction of the aforementioned policy and initiatives designed to grow the economy of Australia holistically, business owners, aspiring entrepreneurs and professionals alike are encouraged to participate in the growth, developing the economy of Australia a synergistic effort from each party.
Below is a list of the most lucrative industries for SMEs based on average invoice volume per subscriber, per annum:
- Glass and Glazing
Contractors in the glass industry are invoicing their clients on average $162,107 per annum.
- Pool and Spa
Contractors in pool and spa are invoicing on average $156,210 per annum.
- Building and Construction
Contractors in building and construction are invoicing on average $139,275 per annum.
- Plumbing and HVAC
Contractors in plumbing are invoicing on average $138,786 per annum.
Security solution providers are invoicing on average $131,271 per annum.
Are you ready to take part in the booming industry?