Entrepreneurs in Australia
27 May 2015 by News Desk
Australia ranks among the highest in the world for female entrepreneurs and new business start-ups.
Entrepreneurial activity in Australia has increased by 3% to over 13%, according to latest official figures that show over 10% of Australian adults are now involved in entrepreneurship. Nearly half of the Australian population see opportunities for a start-up venture and believe they have the necessary skills to start a business.
Darrell Todd, CEO of thinking australia, says; “I have been an entrepreneur all my working life and have both started and operated a range of successful multi-million-dollar businesses. I can say from my own experience there is no better place for business – and business people – than Australia.”
The overall rate of entrepreneurship in Australia is among the highest in all developed cou-tries, on a level with the USA and Canada. 16% of males and over 10% of females in Australia are involved in business start-ups, which places Australia in the top few innovation-driven (most developed) economies for female entrepreneurship participation.
The GEM results show that ambitious entrepreneurship compares well in Australia against other major economies. The “quality” of entrepreneurial activities being pursued in Australia is strong, with prevalence of new ventures ranked in the top few nations in terms of both job creation expectations and product / service innovation.
Australian culture supports and encourages entrepreneurship. Regular high-profile and affirmative media attention presents entrepreneurs as successful role models. Australia also ranks above average for employee entrepreneurial activity in established firms. Australia and Qatar are the only two countries to rank towards the top on both independent and employee entrepreneurial activity.
Business Opportunities
Nearly half of the Australian population identify opportunities for a start-up venture and believe they have the necessary skills to start a business. This is well above the average for other developed economies. Australia’s governments (both federal and state) and institutions do a good job of minimising red tape, and provide adequate support for new businesses.
The federal government offers a wide range of programs for business start-up and early stage business and growth orientated businesses under the Entrepreneurs’ Infrastructure Program. In addition, each state government has its own programs.
