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How to start a business on the Gold Coast

As anyone who has spent any amount of time there will attest, Queensland’s Gold Coast simply has a different vibe to the rest of mainland Australia. It’s the warm weather, the holiday vibe and the excitement of tourism – the theme parks, the beach, and the relaxed retail therapy on and around Cavill Avenue.

It’s also the very many high-rise resorts, the lively night scene, and of course, that gorgeous Surfers Paradise Beach that stretches two kilometres from end to end and is frequented by surfers, swimmers, runners, and dog-walkers.

That said, there’s more to the Gold Coast than tourism and Surfers Paradise, including plenty of reasons to start a business on the Gold Coast. Here are three enticing reasons why you may consider starting your own business on the Gold Coast in Qld.

The Gold Coast is Australia’s largest regional city and boasts an economy worth more than $38 billion and a population of over 630,000.

The entrepreneurial spirit

The Gold Coast is a thriving entrepreneurial hub that is home to more than 70,000 businesses, forming a workforce of more than 300,000 people. Often referred to as Australia’s favourite small business capital, the Gold Coast’s entrepreneurial spirit is very much alive and well.

Born from an entrepreneurial spirit that continues to shine today, the Gold Coast offers a progressive business culture that drives the entrepreneurial success of enterprises at every level. From start-ups to SMEs to large corporations, the Gold Coast is a great place to start a business.

The diversity of industries

If you have visited the Gold Coast you will likely recall the remarkable depth and calibre of businesses across the city’s diverse industry sectors. While domestic tourism remains a key revenue driver, the construction, higher education, and health industries are also thriving on the Gold Coast.

In recent years the Gold Coast has seen growth in professional, scientific, and technical services, as well as in financial services, insurance* services, administrative and support services, and in transport and logistics. Businesses in these professions have certainly made their mark on the Gold Coast.

Today the Gold Coast’s business diversity has created renewed economic momentum for the city and helped it achieve a reputation as one of the more dynamic regional economies in Australia.

Global connectivity

As a regional city with attractive lifestyle appeal and an increasingly global perspective, the Gold Coast takes a ‘big city’ approach to business growth.

The city is strategically located within easy reach of major industrial and commercial centres, while also being on the doorstep of Australia’s largest export markets in Asia. The Gold Coast is also home to Australia’s busiest regional airport, which provides easy access to Asia.

Starting own business Gold Coast Qld

When starting your own commercial business on the Gold Coast there

are a wealth of options when it comes to support services for your new business. These can include:

Bond Business Accelerator: An incubator for early-stage start-ups that offers formal training, practical skills, high-level mentoring, and investor introductions to help you to turn your business idea into a thriving commercial reality.

Gold Coast Innovation Hub: A meet up group that was originally created under the name Silicon Beach Gold Coast, the Gold Coast Innovation Hub is a social event group for entrepreneurs, technologists, and innovators. It is considered one of Australia’s top commercially-backed innovation hubs.

YP Gold Coast: An organisation that aims to motivate, inspire, and connect future Gold Coast business leaders. This advocacy group focuses on growing the Gold Coast’s corporate culture through access to exclusive networking events and opportunities for mentorship and business development.

Legal and regulatory requirements

When starting a new business there are certain legal and regulatory requirements that new business owners may need to be aware of and may be required to meet. These can include:

  • Key registrations from the Federal Government’s Business Registration Service and from the Australian Taxation Office (ATO).
  • Choosing your business structure.
  • Specific licences, permits, and restrictions on your business operations, depending on the type of business you are starting, its size, and its location.

To learn more about starting a business on the Gold Coast and the legal and regulatory requirements you may be required to meet, visit the Business Queensland website.

Choose BizCover for business insurance made easy

Are you considering starting a commercial business on the Gold Coast? Well, BizCover can help get you started on the right foot by making purchasing business insurance quick, easy, and cost-effective. Compare competitive quotes from leading Australian insurers online and get covered in just 10 minutes.

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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