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Doing business in Australia: what you need to know

  • Article

A leading economy in the Asia-Pacific region and the 13th largest in the world, Australia offers a wealth of opportunities. From strengths and challenges to key industries, get the important facts about this burgeoning market.

Why Australia?

Australia is an attractive option for many businesses looking for a stable base of operations in the Asia-Pacific. As a leading business hub for the region, Australia has strong ties with the largest Asian economies as well as free trade agreements with the likes of China, Japan and the US.

As a highly developed nation with a skilled workforce, strong consumer spending and one of the world’s highest standards of living, Australia is fast becoming a favourite for British businesses that are looking for their next opportunity overseas.

What are Australia's leading industries?

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Resources and energy

Resources and energy

Agribusiness

Agribusiness

Financial

Financial

Education

Education

Tourism

Tourism

What are the opportunities for small and medium-sized businesses?

Small and medium-sized businesses are Australia’s driving force. From tradesmen to farmers, retailers and professionals, Australia has a strong culture of nourishing small businesses and supporting their growth. There’s a common attitude around the country of supporting local, small or ‘underdog’ businesses.

What are Australia's strengths?

Australia's strengths

Australia is a regional hub for the Asia-Pacific, with easy access to nearby markets

Australia's strengths

The nation offers highly developed connectivity and access to the latest technology

Australia's strengths

There is an abundance of highly educated and specialist skilled labour across the continent

What are the challenges?

challenges

Some businesses struggle with restrictive visa applications

challenges

Australia is a vast continent that can prove expensive for the transportation of goods

challenges

Australia enforces high taxes and staff benefit costs; however, some tax breaks are available

Opportunities

  • The UK and Australia share a language and a very similar culture, so if your product or service is successful in the UK, there’s a high chance that it will be successful in Australia.
  • Australia values new ideas and innovation and tends to invest more in research and development, making it the ideal environment to grow your new ideas.
  • Sustainability is a key social value in Australia, with the government strongly supporting renewable energy and sustainable business practices.
  • The close relationship between Australia and the UK means there is strong support for future trade agreements.

 

1.2 million

Britons currently permanently reside in Australia, making it an ideal testing ground for expansion

10%

Australia has strong ties to the surrounding region with approximately 10% of the country (2 million people) speaking an Asian language in their home. This can provide excellent access for British companies wishing to engage with fast-growing Asian markets.

Want to find out more about doing business in Australia?

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