The ATO publishes small business benchmarks, which allow you to compare your small business against other, similar businesses in your industry. The benchmarks may help you to identify opportunities to grow your business.

Use the benchmarks to identify if you’re above or below the average benchmarks for similar businesses in your industry. If your business is outside the industry benchmarks, this could highlight areas you could adjust to improve your business performance, like changing costs, pricing or mark up, to improve your business performance. 

There are 3 main small business benchmarks.

1. Performance benchmarks are financial ranges for your industry. They help you work out how you compare to other businesses and decide if you need to make any changes.
2. Key benchmark range is used to compare your business’s performance to others in your industry.
3. Input benchmarks show an expected range of income for tradespeople based on the labour and materials they use to undertake domestic projects.