Thinking about starting your own business or just curious to see how the Australian market is doing?
IBISWorld has just released their annual list of the industries set to fly and fall over the next 12 months, some of which may surprise you.
Some of the industries set to fly in 2020:
The National Disability Insurance Scheme - As government funding rises and more individuals move from other disability support to the NDIS, the industry is expected to grow by 33.3%.
Online food ordering and delivery – With the rise in the use of food delivery apps, such as Ubereats and Deliveroo, this strong industry growth does not come as a shock. The industry is projected to grow by 26.5%.
Pig farming - Who says pigs can't fly? With a rising demand for pig meat from China, the pig farming industry is predicted to rise 13.9%, to a total $1.1 billion.
One major industry set to collapse is diamond and gem stone mining. Due to the closure of the Argyle diamond mine, revenue is expected to drop by 46.1%. So don't get into the diamond business anytime soon!
Read the full report here to discover what other industries will fly and fall in 2020 and to find out more detailed information on any industry or company, check out the IBISWorld database - where knowledge is power.
IBISWorld has just released their annual list of the industries set to fly and fall over the next 12 months, some of which may surprise you.
Some of the industries set to fly in 2020:
The National Disability Insurance Scheme - As government funding rises and more individuals move from other disability support to the NDIS, the industry is expected to grow by 33.3%.
Online food ordering and delivery – With the rise in the use of food delivery apps, such as Ubereats and Deliveroo, this strong industry growth does not come as a shock. The industry is projected to grow by 26.5%.
One major industry set to collapse is diamond and gem stone mining. Due to the closure of the Argyle diamond mine, revenue is expected to drop by 46.1%. So don't get into the diamond business anytime soon!
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