6 reasons why Australia is a top place to run a business

There’s plenty of reasons why this sunburnt country is a great place to start up your own business.

1. Strong economy

One of the reasons for starting a business in Australia can be due to its attractive economic position. Australia has a resilient economy, with consistent growth over the years. This predictability creates a relatively stable environment, something which all business owners seek. Despite the cost-of-living crisis gripping Australia and the world, Australia’s economy has continued to grow over the past few years. Between 2019 and 2024, the Australian economy grew 11.1% — which is a higher rate than the average of 7.8% for other advanced economies.

2. A skilled workforce

To run a successful small business in Australia, you need employees that are not only a good fit for your business but have the skills to get the job done. Fortunately, there are many institutes that provide a high level of quality education and training for individuals, from TAFE campuses to world-class universities.

3. Financial options

The process for getting your business banking sorted is relatively straightforward with Australian financial institutions. Accessing things like business loans and funds involves having the right documentation and information about your business (like your business plan). A good credit rating is also important when looking to borrow.

4. Government support

Combined with the access to great educational facilities, Australia is known for innovation and research. The Australian government offers various grants, incentives, and support programs for startups and small businesses.

5. Regulation

The Australian government has a clear business regulatory framework in place. Transparent rules and regulations provide peace of mind to business owners and consumers.

6. Entrepreneurial

If you’ve decided to start your own business in the great southern land, it makes sense to have the right measures in place to protect it. That’s where BizCover can help.

We protect over 250,000 Australian small businesses covering a wide variety of occupations – from accountants and baristas to consultants and driving instructors. Business insurance* is sometimes a requirement, depending on the type of industry you’re in, so it’s important to make sure you have the right types of cover in place before you open your doors.

BizCover offers a variety of business insurance products to help protect your business. Get a quote online today and get your policy sorted in minutes! For on the go cover, go BizCover.