The Changing Demographics of Australian Small Businesses.. Will this affect when you should buy and sell?

by Bill Gollan 12th of August, 2025

The Changing Demographics of Australian Small Businesses..

As someone who spent 35 years running small businesses (and has the stress lines to prove it), I often get asked: “Bill, when’s the right time to buy or sell a business?”

Lately, my answer starts with another question: “Have you seen who’s actually running the show these days?”

Because let me tell you, small business in Australia is going through a bit of a generational shuffle. And it might just change your game plan.

Boomers Are Bowing Out (Slowly... Then All at Once)

“Retirement isn’t a plan, unless you’ve got one.” – Me, to every business owner over 50!

Right now, more than 60% of Aussie small business owners are over 50. Most are Baby Boomers with an eye on retirement, caravans, and long lunches. The ABS reckons 75,000 businesses will hit the market each year by 2030 due to retirement alone. That’s not a gentle handover. That`s a que.

Good if you’re a buyer with cash and patience. Tricky if you’re hoping trying top maximise your multiple.

Millennials and Gen Z Are Not Your Successors

“They don’t want your business… unless it runs from a laptop in Bali.”

Only 8% of small business owners are under 35, and they’re taught different than the traditional ways. Think Shopify stores, apps, service gigs, and work-from-anywhere models. Even the ones who do buy bricks-and-mortar businesses? Over 50% plan to sell within five years. Business is a stepping stone, not a family heirloom.

Diversity Rising, and It’s a Good Thing

“Business is no longer one-size-fits-all. And that’s a good thing.”

Over 33% of Aussie small business owners were born overseas. That number’s rising, bringing innovation, niche services, and fresh thinking. It’s changing customer expectations and opening the door to new buyer profiles.

So… When Should You Buy or Sell?

Glad you asked. Here's my take:

Selling? Beat the rush retire before everyone else tries to. Clean up your books, modernise your systems, and prep a solid handover plan. If your buyer needs a manual just to turn on the computer… that’s your edge.

Buying? There’s gold out there. Look for businesses with potential hiding behind poor marketing, tired owners, or pre-2005 websites. A little effort can go a long way especially in industries where the owner “doesn’t do social media.”

Sitting on the fence? Get advice. The right timing isn’t just about the economy. It’s about demand, trends, and who's actually willing to take the reins.

The Bottom Line

The face of Aussie small business is changing older owners, younger buyers, and a more diverse crowd all round. If you know how to read the room, there's big opportunity on both sides of the table.

And if you don't? Well... you know where to find me.

Tags: business broker tips selling buying