Industries Australian Entrepreneurs Should Consider in 2019
to market analysts, the Healthcare and Social Assistance industry will be the
top growth industry over the next three years. This sector will grow
by 16.1% and produce nearly 250,000 jobs across Australia. This is largely
thankful to the federal government's implementation of the National Disability
thing you should know as an entrepreneur looking to start your business is that
all industries are not the same.
business correspondent Peter
Ryan from the ABC say's, "construction is set for its biggest fall since
the global financial crisis. A key factor in the residential slowdown has been
tougher regulation by the Australian Prudential Regulation Authority (APRA) to
curb investor lending, while the Foreign Investment Review Board (FIRB) and tax
office has been clamping down on overseas buyers".
business funding experts Max Funding
say, "The type of industry you pick for your startup might decide whether
you succeed or fail. Also, the industry that you choose to venture might affect
your chances of raising capital from investors and getting a Business Loan approved.
Lenders consider whether the industry you are venturing is booming or in decline.
If the industry is not booming, the chances of defaulting on the loan are increased".
Technology Still on a Growth Trajectory
is among the booming
startup industries in 2019. Any startup that can come up with innovation is
set to make it big. People are looking for new ways of doing things as long as
the startup focuses on technology that is user-friendly and one that enhances
the user experience, the market for the startup can grow fast to become a significant
player in the technology industry.
of the technology sectors that are booming are the automotive industry, smartphones
and tech gadgets as a whole, not forgetting the software technology.
cybersecurity technology industry is also booming.This is because many people
are transacting online and so there is a huge market for online security tools.
Health is Receiving Government Investments
is another sector where you cannot go wrong. However, this does not mean investing
in the traditional health sectors like the hospital and family care practices.
The best opportunities in health are within the sub-sectors. Like, private health
services, biotechnology, health data management and disability support services.
should focus on personalised, convenient, data-driven health care that can compete
with traditional health care facilities.
in the health sector must embrace regulation, and exercise patience, because the
sales cycle in the health sector is usually long. Success in this industry requires
determination, passion for human wellbeing and a strong social network.
Energy Technology Still Expanding
energy sector has always been lucrative, and it won't slow down anytime soon.
As the population increases, and so is the need for energy. The best sub-sectors
in the energy sectors are oil and gas, sustainable energy, and mining.
in the energy industry requires that you know how to pitch for your startup. You
should target the unmet need and show how your product can satisfy that need.
Media Conglomerates Expanding
is an excellent vertical for any startup desiring to grow fast. The best subsectors
in the media industry include virtual reality, gaming, and streaming television.
Streaming services like Netflix, Hulu,
Amazon Prime, and many others are
edging out traditional TV. Success in the media industry requires that you listen
to your clients.
a strong community where you can get to understand their needs and wants will
help you structure your business in a way that satisfies your target audience.
Also, it's the
best safeguard against becoming complacent. Digital media is taking over the media
industry, being among the fast startup to define the sector can ensure the growth
of your startup.
you need to understand that in the media industry there exists cutthroat competition
and so you must be bold to survive.
as a startup is influenced by many factors. However, the choice of the sector
to venture might be the most important decision you ever make for your startup.
Investing in any of the above booming industries could increase your chances of