Aussie business owners are prioritising lifestyle over growth

Australian small business owners are carving out their own paths,  and for most, it’s not about taking over the world. New research from Xero shows that while Aussies love the idea of starting a business, only 17 per cent dream of growing internationally.

The It’s ‘Your’ Business report surveyed 500 small business owners and paints a picture of a community prioritising freedom, flexibility, and doing work they genuinely enjoy over chasing aggressive growth.

Lifestyle first, scale second

Almost half (47 per cent) of owners describe themselves as lifestyle entrepreneurs, focused on carving out a career that fits their life rather than a fancy office in the city. Ambitious achievers make up 30 per cent, chasing growth, wealth, and a legacy, while 23 per cent are situational founders, seeking steady progress and financial reward alongside freedom.

Xero ANZ Managing Director and Global Chief Strategy Officer Angad Soin says the findings show Australia’s small business scene is more diverse than ever.

“Digital tools have made it easier to start and run a business on your terms,” he says. “For many, success isn’t about a big brand or global empire — it’s about having the flexibility to live the life they want.”

Happy, but planning for tomorrow is often on hold

Despite putting lifestyle first, Aussie small business owners are broadly satisfied: 86 per cent are happy in their role, and 96 per cent consider themselves successful or on the path to success.

But there’s a catch. Almost half don’t have long-term goals, and less than a third have an ‘endgame’. Soin says that’s a missed opportunity.

“Being clear on what success looks like for you is the first step,” he says. “From there, the right tools or a trusted advisor can turn those big-picture ideas into something real — and profitable.”

Advisors make a real difference

The numbers back it up. Of those who work with an advisor, 62 per cent reported revenue growth last year, compared to 38 per cent who go it alone. Confidence in running the business is higher too: 67 per cent vs 55 per cent.

“Advisors aren’t just for the big end of town,” says Soin. “They help owners of all stripes make smarter decisions and actually enjoy the ride.”

With small businesses contributing half of Australia’s GDP and employing one in four Australians, supporting diverse motivations is key. Whether you’re chasing a lifestyle, a legacy, or a bit of both, the research shows there’s room to thrive, as long as you’re clear on your goals and backed by the right support.

This post first appeared on Business Builders. You can read it here.

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