Starting out

10 of the most common new business types

Becoming your own boss is a dream for many. Starting a business is one way of achieving just that.

In this article, we take a look at the 10 most common new businesses that are started in the Australian market. You can also use our business types list for inspiration if you’re currently considering starting one yourself.

There are four common business structures to know before we dive in. The structures are sole trader, company, partnership, and trust. Different structures will be more suitable for different types of business and it’s worth knowing a little about them. This will help you to decide on the best business structure for you before you create your business plan.

Businesses in this category include real estate sales, property management, and furniture and appliance rentals. There are a lot of options to choose from and these businesses lend themselves well to new business owners and ones looking to diversify.

Businesses related to agriculture are some of the most popular in Australia. Beef and dairy cattle farming come top of the list. In addition, egg farming, beekeeping, and cotton growing also feature heavily. If you would like to start a business in the agriculture sector, there’s an industry-specific grant you can apply for to help with the costs. 

Scaffolding, tiling, carpeting, painting, and decorating are common small businesses under the construction category. They’re often well suited to sole traders with skills in one of the trades and individuals who want to try working for themselves. Likewise, starting a construction or a decorating company is another option, bringing together people with different skills.

Cafes and restaurants are always popular small businesses, ideal for lovers of food and hospitality. Takeaways, bars, and bed and breakfasts tend to fall under this category too. There are specific challenges connected to this type of business, from food hygiene standards to licensing, if you plan on serving alcohol.

Independent stores are the backbone of many communities. From small shops selling fashion and beauty to convenience stores and bookshops — there are a lot of options to choose from in this sector. It’s often a good place for first-time entrepreneurs to start and there’s always the option of expanding. 

Many people with a specific skill set in accounting, marketing, project management, or advertising choose to work for themselves. Setting up a company or a partnership is also popular in this business sector and lends itself well to both structures. This type of business is suitable to people with experience in their respective industries, but are otherwise new to owning a business.

Though many think of hospitals when it comes to healthcare, many health care providers operate as small businesses. Typically, dentists, physiotherapists, aged care services, and therapists fall under this category. 

Do you have a passion for helping other businesses succeed? You could make it a reality by starting a recruitment or an HR company, a call centre or a commercial cleaning service. 

Businesses providing transport services are more in demand than ever, with so many more people relying on taxis and deliveries. Companies providing private cars and couriers delivering goods are particularly popular.

A lot falls under this category, making the businesses named here suitable for first-timers and anyone looking to diversify their business portfolio. Gyms, galleries, cinemas, and sport facilities are some ideas to consider if you would like to own a business in the recreation industry. 

We hope that our list of the most common business types in Australia gives you a few ideas. Ready to start a new business? As soon as you know its name, we recommend you visit Namecorp to check if it’s available and register it and an ABN there.

While starting a new business can be scary, it’s also a very exciting time. Thankfully, there are a lot of resources available to those just starting out to make the process a less daunting one. 

How can we help?

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