Being a country with a very stable economy, Australia is a very fertile ground for small businesses. According to the Business Monitor, business confidence is growing in Australia, especially among small businesses. Though the fact remains that there are challenges to starting a business in Australia, most of these challenges are usually overcome by small businesses. Insidermonkey experts made a list of most profitable industries in Australia.
An report released late last year shows that five years of industry trading administrative and support services comes out on top ahead of mining, retail trade, hospitality and wholesale trade. And it is not just big businesses in these industries that are doing well. A lot of small players have found a niche and are generating substantial profits. Experts analyzed 1,241 companies to see what patterns and trends have emerged over the previous five years. So what do you think how can a support service generate such big profits? You can also read our list of the most profitable industries in the world.
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