Australia’s start-up sector is one of most rapidly growing in the world, making it a great place to launch your own small business. Which Australian city is considered the best business location? Keep reading to find out!
1. Sydney
Sydney is the home of both the Australian Securities Exchange (ASX), and the Reserve Bank of Australia. It’s considered to be Australia’s financial, manufacturing, and start-up capital, and is one of the most visited destinations in Australia by international visitors. In 2023, Sydney made the top 25 list of global leading centres and was ranked 7th overall in the Asia-Pacific region. Sydney was also ranked 18th in 2022/23 by 2thinknow’s Innovation Cities Index and ranked 20th by the Startup Genome Ecosystem Report in 2023. Additionally, the New South Wales Government actively supports emerging business through the Sydney Startup Hub, the first of its type in Australia.
Recommended reading: Guide to Starting a Successful Business in NSW
2. Melbourne
Business is booming in Melbourne, the capital of Victoria. This city boasts a multicultural population, with roughly 40% of its residents born overseas. As such, Melbourne’s economy offers a diverse landscape of small business opportunities. It is also becoming known as a growing hub for tech companies that include new energy, digital, and medical technologies.
3. Adelaide
Adelaide is one Australia’s fastest growing cities for start-ups due to its many opportunities and local resources. Adelaide possesses a strong entrepreneurial ecosystem, with a focus on defence, manufacturing, insurance, energy, food, and wine.
4. Brisbane
The capital of Queensland and the host city for the 2032 Summer Olympics, Brisbane’s primary sectors are healthcare, tourism and construction. These sectors employ much of the city’s workforce and are major contributors to the state’s income. Brisbane also has a strong focus on logistics and advanced manufacturing.
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. A significant rise in service exports, especially in the higher education sector, has helped to boost Canberra’s economy.
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 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. There is also a growing tech start-up scene in Perth.
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