Small Biz Buzz: $1bn startup boom; Auto-repairs growth

Here's what's making headlines in the small business world this week.

Startups have seen a $1 billion tech boom in the past quarter. Source: Supplied

Billion-dollar startup funding boom

According to a new report, Australian startups received nearly $1 billion in funding across the March quarter.

The Techboard report revealed that $972 million in funding came from a variety of sources, including venture capital, debt financing, public listings and angel or seed investments.

And it's significantly higher than last year's funding deals of $330 million.

Industries with the largest total funding are travel, health and biotechnology, and financial technology.

Startups in NSW also took in almost three-quarters of the funding across Australia.

$85 million in funding was raised over just four days, in the lead up to Easter.

Car repairs top growth sector

The highest growing sectors for small businesses, according to data published by mobile app Invoice2go, are landscaping, food, building and construction.

Auto-repairs is at the top of the list, attaining 78% growth in the past year.

The study reported that average invoice volumes issued by mechanics grew from around 72,000 annually, to 129,000 due to an increase in registered vehicles. 

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