As a former architect trained in Argentina, I got used to thinking about my career from the entrepreneur standpoint, ever since my Uni years. It is assumed that you’d start your own architectural practice, and have clients; we were never told to look for a job, instead, we had to create it and then manage it. Over the years I have operated entities -either client companies or my own- in Argentina, Chile & Colombia and worked closely with many based in Canada & the US.
Fast forward a few years to 2014 and we founded Synergy Resource Capital in Australia, which started as a corporate advisory business and it is now transitioning into an incubator for new projects and companies. Exciting times ahead!
Having had that experience and after the last few years, I have a good understanding of how things operate in different countries. If you have been thinking about starting your business in Australia I have good news. Many people who were born and raised in Australia, and who have run businesses here may not be aware, but it is actually quite easy to conduct business here compared to many other jurisdictions.
So here are my 5 reasons why it is such a fantastic place to start a company:
- 2 fast 2 easy: oh my god. After setting up dozens of companies in multiple locations, Australia gets a golden star for speediness & ease regarding the setup and running of entities. And most paperwork isn’t actually paperwork because it can all be done online, saving you so much time and effort, allowing you to focus on what’s most important. Like creating your app, building your empire (ahem), or whatever your mission is.
- Taxes, of course, but within reason: the tax rate, in comparison to other countries and despite a lot of discussions in the media, is actually very reasonable considering the infrastructure that comes with a country such as Australia. Even more so if you run a small business entity, one with a revenue under 10 million. It may even get lowered a bit further to 25% in the near future.
- Help wanted: employing personnel is relatively simple, and there’s a strong differentiation in the duties for SBEs with regard to their employees, and larger companies, which makes it much easier to hire, manage and dismiss people.
- Advice is just a click away: even if you have great advisors, it’s comforting to know that government websites provide a plethora of information, constantly updated and detailed enough to solve simple questions.
- The world is your oyster: from Australia, you can access so many other jurisdictions with such ease, and relative simplicity. Plus as an exporter, there are plenty of grants and programs that can give you a boost and help in the process. Being a citizen of the world (one of my dad’s favorite sayings that I took as my own years ago) is really possible!
So there you go. What are you waiting for? If entrepreneurship is in your blood and you’ve had an idea in your mind for a while, just go for it.