Australia’s swift embrace of technology has provided fertile ground for many start-ups in recent years. And as a result Australia’s technology start up scene has transformed from a small stage with modest innovative activity a decade ago to a vibrant hub for innovators and tech investments. Indeed, there are now many tech start-up investment opportunities in Australia.
Today Australia’s start-up sector is one of most rapidly growing in the world – not surprising considering that in 2021 CEO World Magazine ranked Australia third globally for ease of doing business, behind only Denmark and Germany.
Where to start a business in Australia?
In Australia major industries for small businesses vary from state to state, but on the whole Australia has an enviable international reputation for being a fantastic country to base a business in. So, which Australian city is considered the best business location for the head office for your new small business? Read on to learn about the top Australian cities to base your new business in with our Australia startup guide.
1. Melbourne
In Victoria business is booming, and Melbourne boasts a multicultural population, with nearly half of its residents born overseas. As such, Melbourne also offers a diverse economy. Victoria’s capital city offers a multitude of small business opportunities. It is also a growing hub for tech companies that include new energy, digital, and medical technologies.
If you’re interested in starting a small business in Melbourne you can find a wealth of helpful information on the Business Victoria website.
2. Sydney
Sydney is the home of both the Australian Securities Exchange (ASX), and the Reserve Bank of Australia. It’s also considered to be Australia’s financial, manufacturing, and start-up capital, and in recent years many leading start-ups are emerging in Australia’s harbour city.
Sydney was ranked as one of the most innovative cities in the 2018 Innovation Cities Index. Additionally, the New South Wales Government actively supports emerging business through the Sydney Startup Hub, an innovation hub that is the first of its type in Australia.
Recommended reading: Guide to Starting a Successful Business in NSW
3. Adelaide
Adelaide is one Australia’s fastest growing cities for start-ups due to its many opportunities and local tech resources. Adelaide is considered to possess a strong entrepreneurial ecosystem, with a focus on defence and manufacturing, financial and insurance, and agritech, energy, food, and wine. As such, Adelaide has developed a reputation as a city that welcomes and encourages innovation.
The South Australian Government supports entrepreneurs and start-ups through FIXE, a program that actively supports local entrepreneurs. FIXE’s goals are to honour local entrepreneurs, promote high-quality education and training and encourage entrepreneurship among people and organisations by giving them the resources and tools to start and grow a profitable business.
4. Brisbane
The Queensland capital of Brisbane, the host city for the 2032 Summer Olympics, boasts strong business ties in education, healthcare, and retail, which are considered Brisbane’s most developed industries. These sectors employ much of the city’s workforce.
Queensland’s wholesale and retail trade are major contributors to the state’s income, while the healthcare and social assistance sectors are also thriving in the Sunshine state’s capital city. Brisbane also has a strong focus on digital industries, cleantech, and mining.
Recommended reading: How to Start a Successful Business in Queensland?
5. Canberra
Australia’s capital city is full of opportunity, innovation, and potential when it comes to launching your new small business. According to the Treasury ACT Government, the ACT’s economy is one of Australia’s strongest. A significant rise in service exports, especially in the higher education sector, has helped to boost Canberra’s economy.
Canberra is lauded as a fantastic location to start a business due to there being many large business events in the nation’s capital, which also offers an interconnected entrepreneurial community. The Canberra Innovation Network (CBRIN), a government initiative, was established in 2014 to assist local entrepreneurs by connecting them with mentors and industry experts.
CBRIN also links the region’s educational and research institutions to the business community in order to support local job creation and add value to Canberra’s economy. CBRIN provides a wide range of workshops and accelerators as well as incubators for connected programs aimed at benefiting aspiring small business owners.
6. Perth
Perth dominates the economy of Western Australia, which is well-known for having some of the largest iron ore mining operations in the world. It may be assumed that mining overshadows all other sectors and industries in Western Australia. But to the contrary there is a growing tech start-up scene in Perth, backed by substantial investment.
Perth also has a thriving small business sector, especially in the construction, finance, insurance services, and agriculture sectors.
Small business insurance made easy with BizCover
At BizCover, we make purchasing small business insurance quick, easy, paperwork-free, and drama-free. Our innovative online platform enables small business owners to compare competitive business insurance quotes from leading insurers in an instant, purchase their business insurance in 10 minutes, and get on with their day.
Whether you are looking for business insurance in Melbourne, business insurance in Sydney, business insurance in NSW, or business insurance in any of the other capital cities mentioned above, BizCover can help you with your business insurance needs.
To learn all about Australian business insurance for your newly minted small business visit the BizCover website now or call our friendly team on 1300 920 867.
This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
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