The Burrow
Aug 29, 2024
Starting a new business takes ambition, time and, importantly, a good idea.
After all, we found business owners were the most satisfied occupation in 2023.
As experts in helping Australians compare business insurance policies, we found out the most popular business ideas in the past year for entrepreneurs globally.
These were the findings.
According to global search volume in the past 12 months (June 2023 to May 2024 inclusive), most people sought to start a cleaning business with 136,400 searches.
Dropshipping – where ecommerce businesses outsource a third-party supplier to procure, store and ship products such as print clothing – was the second-most popular with 112,300 searches.
Meanwhile, would-be entrepreneurs also wanted to start a clothing business with 104,400 searches in the past year.
| Rank | Business Type | No. of Searches |
| 1 | Cleaning | 136,400 |
| 2 | Dropshipping | 112,300 |
| 3 | Clothing | 104,400 |
| 4 | Vending Machine | 97,200 |
| 5 | Consulting | 92,700 |
| 6 | Construction | 86,700 |
| 7 | Coffee | 75,900 |
| 8 | Jewellery | 62,000 |
| 9 | Photography | 52,800 |
| 10 | Real Estate | 45,600 |
Most Australians wanted to start a business in the construction industry, followed by cleaning and clothing organisations.
In the United States, people sought to start a cleaning business the most – which was consistent with global results. The online search data also revealed Americans wanted to start vending machine and dropshipping businesses.
Canadians were most interested in starting a cleaning business in the past year. This was followed by setting up consulting and dropshipping businesses.
Compare the Market’s Executive General Manager of General Insurance, Adrian Taylor, said having business insurance cover is one of the most important considerations when starting a new business.
“Business owners should take precautions. This includes having business insurance cover to have a level of protection in the event of the unexpected,” Mr Taylor said.
“For example, Public Liability insurance can cover your business against third-party personal injury, harm or property damage in relation to your business activities.
“However, not every insurer will offer the same price and level of cover, so it pays to compare policies to find one that suits your new business.”
Always read policy wording or the Product Disclosure Statement (PDS) and Target Market Determination (TMD) to check for the inclusions, limits and restrictions before purchasing.
Using Google Keywords Planner, we analysed the online search volume of more than 80 business ideas in a 12-month period (June 2023 to May 2024 inclusive). This included global, Australia-only, United States-only, and Canada-only search data.
The business types were based on the top matching terms, according to the Ahrefs Keywords Explorer.
The search term was in English using the following format:
This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
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