The State of the Perth Business Market in 2024

Navigating the Local Perth Business Landscape

The Perth business landscape in 2024 presents a unique set of opportunities and challenges. As Western Australia continues to leverage its resource-sector strength, we are seeing significant diversification into technology, renewable energy, and specialized hospitality sectors.

Resilience in Key Sectors

Despite global economic headwinds, the local market remains resilient. Transaction volumes for small-to-medium enterprises (SMEs) have seen a 12% increase compared to the same period last year. This growth is largely driven by a renewed interest in established service-based businesses with stable recurring revenue.

The Buyer Profile is Shifting

We’ve noticed a distinct shift in the buyer demographic. There is an influx of interstate investors looking at Western Australia for its relative value and high growth potential. Private equity groups are also showing increased interest in “boring but profitable” industrial sectors such as logistics and waste management.

Key Takeaways for Sellers

• Clean financial records are non-negotiable in the current due diligence environment.
• Technological integration significantly boosts business valuation.
• Succession planning should begin at least 24 months before a planned exit.
• The hospitality sector is rebounding strongly but requires professional operational systems.

Moving forward into the final quarter of the year, we expect the market to remain liquid, with high-quality assets continuing to attract multiple offers and premium multiples.