The newly-released 2025 Small Business Growth Report by online insurance provider BizCover has revealed the fastest-growing and slowing small business sectors in Australia, based on a comprehensive analysis of small business insurance policy requests.
Overall, the top-growing small business sectors in 2024 are Aged and Disability Care, Cleaning and Gardening, Post-Construction Services, Allied Health, and Business Consultants.
“This is a useful indicator of industry growth trends based on internal data,” said Sharon Kenny, Head of Marketing at BizCover. “Simply put, more new business insurance requests correlates to more new small businesses.”
The report also identified the five fastest-growing sectors. These are:
- Societies, Associations and Groups – 36.2 per cent
- Tax Services – 34.6 per cent
- Property – 34.3 per cent
- Complementary Therapies – 32.7 per cent
- General Services – 31.8 per cent
The fast growth of the Societies, Associations, and Groups sector, in particular, is attributed to the significant increase in new business insurance quotes in this sector compared to the previous year, an indication that there is a renewed focus on social connectivity and community-minded projects that people want to get involved in.
“Despite economic challenges, certain sectors have experienced impressive growth, which signals new opportunities for business owners and investors alike. By understanding these shifts, businesses can better position themselves for success in 2025 and beyond.” she added.
On the other hand, five sectors have been identified as having slow growth. These are:
- Surveying
- Data processing, web hosting and electronic information storage services
- General Retail
- Tertiary Education
- Wood and Paper Manufacturing
The report noted that the decline in surveying could be due to a slowdown in infrastructure projects and a shift towards firms that offer bundled services that include engineering, construction management, and environmental assessments.
The rise in automation and the dominance of large cloud providers has also been cited as a factor in the decline of the data processing, web hosting, and electronic information processing services sector. However, Kenny pointed out that declining sectors still offer unique opportunities for entrepreneurs.
“Even a shrinking industry can present unique business opportunities for those willing to take on the challenge,” she said. “Rather than being intimidated by the growth or decline in their sectors, small business owners should utilise times of change by leveraging these shifts to build on their strengths.
Kenny concluded, “Focusing on what makes your business stand out – whether that’s offering a specialised service or reaching a niche audience – can help position you for long-term success.”
