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New figures from CommBank reveal that younger Australians are playing a leading role in small business growth – with Gen Z and Millennials behind more than 60% of new business account openings over the past year.
Retail trade, along with personal and business services and construction are the most common industries attracting these new entrepreneurs. The strongest activity is being recorded in New South Wales, Victoria and Queensland, with over half of the accounts set up by sole traders.
This generational shift points to a broader change in how younger Australians approach work and financial independence. Many are turning to self-employment, prioritising flexibility, digital integration and long-term control over their income.
The data also shows that younger founders are more inclined to use mobile-first platforms and online tools to manage their businesses. It’s a sign of where small business is heading – and who’s leading the way.
#smallbusinessaustralia #genz #millennials
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