GoDaddy’s Venture Forward research reveals Canberra is top in online microbusiness density with 32 online microbusinesses per 100 residents.Australia’s largest cities Sydney and Melbourne ranked fourth and fifth, respectively, amongst the top 20 regions.Canberra boasts almost double the number of online microbusinesses per 100 residents compared to the constituency of Cities of London and Westminster in the UK.Venture Forward analyses data from more than a million online microbusinesses globally.
SYDNEY, June 5, 2024 /PRNewswire/ — Canberra is the online microbusiness epicentre of Australia, with its density of online microbusinesses surpassing Australia’s largest cities, Sydney and Melbourne.
Venture Forward, GoDaddy’s international research initiative that studies the economic impacts of small businesses and the attitudes of the owners who start and run them, analyses data from more than 300,000 Australian online microbusinesses, giving every Level 3 Statistical Area in Australia a “Microbusiness Density” score.
Canberra has the highest number of online microbusinesses per 100 residents
The data outlines the concentration of online microbusinesses, which typically employ ten or fewer people, relative to population density. Canberra is Australia’s leader with 31.9 online microbusinesses per 100 residents as of December 2023.
Sarah McPhillips, owner of hair salon Matriarch Hair, consulting business Sarah McPhillips Consulting and currently setting up new venture Trichology, believes Canberra is a unique place to run a business: “It’s primarily a public service town, so entrepreneurs are able to get an amazing support network of government and other small businesses through bodies like the Canberra Business Chamber or Canberra Women in Business, of which I’m a member. This support means entrepreneurs get the help they need to navigate the challenges of running their own business while positively contributing to local communities. It also means that people are inclined to enjoy both the benefits of a public service salary and the flexibility of a side hustle.
“Having an online presence has been invaluable in helping my businesses grow, not only financially but also to reach out to more clients and supporters. Most of my new clients come to my businesses based on what they see on the website – it’s a crucial tool to communicate who we are and what we do. I’m currently working on an online shop and hope to make it a key part of my salon and latest venture.”
Beyond Canberra, a diverse array of regions emerged, highlighting representation of online microbusinesses across states. The Gold Coast boasts 11.5 online microbusinesses per 100 residents, Adelaide City follows with 5.6 and Sydney City and Melbourne City registering 5.4 and 4.8 respectively, highlighting the entrepreneurial spirit across some of Australia’s key urban hubs.
Top 20 regions from GoDaddy’s results spread across the country
The top 20 regions for online microbusiness density show representation across most states. New South Wales is home to seven of the highest placed regions, closely followed by Queensland with six regions and Victoria home to five regions on the list.
The research found that online microbusinesses generate significant earning potential for Australian entrepreneurs, with a notable 21% earning over $10,000 a year. Moreover, findings revealed that 40% of online microbusinesses serve customers nationwide, while 29% primarily cater to local markets within their own state or territory.
GoDaddy’s Venture Forward study also identified the employment impact of these online microbusinesses, with 40% of respondents being fully employed by their ventures and 35% planning to hire 1-3 new employees within the next year – which may well help bolster job growth in the economy and create promising employment opportunities across Australia.
Australia a strong player on the global stage
The results of the research have shed light on Australia’s entrepreneurial landscape and its positioning against other markets studied as part of GoDaddy’s research initiative. For example, the UK’s top performing constituency of Cities of London and Westminster had 17 online microbusinesses per 100 residents, which is just over half the number that Canberra reported.
Suzanne Mitchell, Australia Market Lead for GoDaddy, adds:
“Venture Forward microbusiness density data demonstrates the sheer prevalence of online microbusinesses across Australia. They have the power to help grow the economy, and also the potential to provide new jobs and opportunity in their local communities. This data suggests that right now, our capital Canberra is the heart of a thriving online microbusiness community.
“There are very few research studies that focus specifically on companies with under 10 employees in Australia. GoDaddy aims to change that by sharing this data with businesses and policymakers, helping them to make informed decisions about entrepreneurs and the challenge and opportunities they face.”
NOTES
Top 20 Australian regions for microbusiness density
[source GoDaddy Venture Forward, 2024]
Rank
Area
State
Microbusiness Density
1st
Canberra East
ACT
31.950207
2nd
Gold Coast Hinterland
QLD
11.510297
3rd
Adelaide City
SA
5.6108456
4th
Sydney Inner City
NSW
5.450892
5th
Melbourne City
VIC
4.8154364
6th
Yarra
VIC
4.6323028
7th
North Sydney – Mosman
NSW
4.373343
8th
Eastern Suburbs – North
NSW
4.0648189
9th
Broadbeach – Burleigh
QLD
4.0465779
10th
Stonnington – West
VIC
3.773674
11th
Hawkesbury
NSW
3.6773474
12th
Port Phillip
VIC
3.6178932
13th
Brisbane Inner
QLD
3.5248845
14th
Manly
NSW
3.3539803
15th
Brisbane Inner – North
QLD
3.2144015
16th
Pittwater
NSW
3.167613
17th
Surfers Paradise
QLD
3.1144063
18th
Tumut – Tumbarumba
NSW
3.080426
19th
Maroochy
QLD
2.9936316
20th
Richmond – Windsor
VIC
2.9736085
About GoDaddy
GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a professional website, sell their products and services, and accept payments online and in-person. GoDaddy’s easy-to-use tools help microbusiness owners manage everything in one place. To learn more about the company, visit www.GoDaddy.com.
About Venture Forward
Venture Forward is a multi-year research initiative, which analyses data from over 300,000 Australian microbusinesses – conducted by GoDaddy to quantify the impact of these microbusinesses on the Australian economy and their local communities.
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SOURCE GoDaddy
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