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Starting a new business in Australia

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Australia is definitely the land of opportunity which is why it’s so appealing as a destination for business owners. Many Visa applications are from applicants who have already owned and managed their own business in their country of origin.  Starting up a brand new business whether you’re an Australian citizen or not, is a risk but with careful planning and research, there is no reason why it can’t be successful. 

So if you’re looking at starting up a business in Australia, here’s a few pointers to help get you started on the right track:

Get your structure in place: What type of business are you starting and what type of structure will it need? For example, is it part of a franchise, is it a home-based business, an online business, etc. Your structure will depend on the needs of your business’s operations, your customers accessibility and of course, legal requirements.  

Understand your industry: Research, research, research. Is there a need for your business in the area you are looking at? How many competitors will you have? Have you conducted market research to understand the requirements of that industry? For example, buying an established coffee franchise would be different than setting up a news agency. If you have migrated from another country, the industry may be a lot different from the regulations and consumer market from your country of origin. Speak to others who work in the industry and even your local council member to better understand your particular industry within your local area. 

Choose a business that is right for you: Everyone has different needs and circumstances in their lives and this needs to be taken into consideration when researching and choosing which type of business you wish to commit to.  The main factors in choosing a suitable business includes:

  • Family situation
  • Financial commitments 
  • Experience and qualifications in the relevant industry
  • Eligibility for owning a business (Visas, council approval, etc)
  • Any health issues which may hinder the business operations 
  • Location of business
  • Hours of operation for the business
  • Any import/export laws which may be relevant to your business’s trade
  • Government requirements (ABN, taxation requirements, work place health & safety, employee entitlements, etc).

Deciding to start a new business is a big step for any individual, but if you are starting a business after moving to Australia you not only have all of the business considerations to think of, but the cultural aspects as well. Every country differs in how people ‘do’ business and it is important to address this. Starting a brand new business can be exciting but also daunting. However, there are a lot of resources available both government and private that can help streamline the process. It is to everyone’s benefit if your business is successful. More businesses equals more jobs.

If you are considering moving to Australia to open a new business or would like to discuss the Business Visa’s available, please contact one of our experienced and qualified migration agents based right here in Brisbane.

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