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Business Migration Assessment

WHY DO BUSINESS IN AUSTRALIA?

Did you know that Australia is currently experiencing its 25th year of uninterrupted annual growth? Did you know that Australia is currently ranked 15 on the World Bank Ease of Doing Business Index? Did you know that Australia ranks 2nd in the world for ease of setting-up a new business?

The ease of doing business index is an index created by the World Bank Group.  Higher rankings (a low numerical value) indicate better, usually simpler, regulations for businesses and stronger protections of property rights.  Empirical research funded by the World Bank to justify their work show that the economic growth impact of improving these regulations is strong.[2]. Economies with a high rank (1 to 20) have simpler and more friendly regulations for businesses. This page includes a chart with historical data for Ease of Doing Business in Australia.  Ease of Doing Business in Australia is currently ranked at 15 (last updated January 2017) with South African ranking in at 186 in 2016.

Australia’s economic resilience and potential provide a safe, low-risk environment in which to do business.

The country’s economy is rated AAA by all three global rating agencies and is forecast to realise average annual real GDP growth of 2.9 per cent between 2016 and 2020.

The Australian economy is

  • the world’s 12th largest
  • in its 25th year of uninterrupted annual growth
  • supported by high productivity levels, with 15 out of 20 industries rating above the global average
  • an important contributor to five sectors expected to drive future global growth: agribusiness, education, tourism, mining and wealth management
  • home to the largest pool of funds under management in the Asian region.

Click here for the Australian Benchmark Report.

Over the last decade, the Australian economy has been ‘riding’ a mining boom in iron ore, coal, gold and natural gas which has helped insulate Australia from the global financial crisis.

Although the peak in resource prices appears to have passed, we expect high-demand from Asia for natural resources will continue to underpin economic growth in Australia for some time. The national economy is forecast to grow at an average of 3.2% per year through to 20173.

Australia's accelerating political and corporate engagement with Asia — in particular China — is opening new and growing markets to Australian businesses. Agriculture, professional services, education and tourism are just some of Australia’s industries set to benefit over the coming years.

There are a number of factors which attract business to Australia.

  • Simple business establishment - Australia ranks 2nd in the world for ease of setting-up a new business
  • Receptive to foreign investment - Government policy is welcoming to Asia Pacific based business investors. Regulations are set by the Australian Securities and Investments Commission (ASIC).
  • Shelter from global downturns - Australia’s economy proved resilient through the global financial crisis of 2008-09, and is well positioned to weather any future global shocks. Australia is perceived as a low-risk marketplace for foreign business investors.
  • Regional advantages - Australia’s workforce is highly-skilled and multicultural. Political and banking system stability makes Australia an ideal base for businesses in the Asia Pacific region.

Australia is committed to innovation and science, recognising that it underpins the country’s growth, economic prosperity, competitiveness and job creation.

To foster creativity and entrepreneurship, the Australian Government has launched a National Innovation and Science Agenda – a suite of initiatives to encourage Australians to take on new ideas, embrace risk, increase collaboration between industry and researchers, and develop and attract world-class talent for the jobs of the future.

Australia offers modern ICT infrastructure, high levels of investment, generous research and development (R&D) tax incentives for businesses and strong intellectual property protection.

Australia is

  • supportive of high-quality research outcomes and entrepreneurial activity
  • committed to R&D, with gross expenditure on R&D growing at twice the OECD average
  • rated fifth in a ranking of the world’s top 200 universities by five key subject fields
  • home to some of the world’s best academic and research institutions.

The Australian labour force is one of the most educated, multicultural and multilingual in the world.

Australia

  • has the world’s highest secondary education enrolment rate
  • is ranked ninth in the world for the talent of the people it produces, attracts and retains
  • has a culturally diverse workforce where almost 30 per cent of workers were born overseas
  • has experienced a sustained period of labour productivity growth exceeding growth in real wages
  • is the third most popular study destination for international students and a ‘first choice’ education destination within the Asian region.

Australia is geographically close to and has longstanding trade, investment and cultural ties with the Asia-Pacific region.

Existing and new trade agreements are set to drive the flow of goods, services and investments between Australia and its major trading partners in Asia, Europe and North America.

Australia has an open trading economy where

  • two-way trade in goods and services totalled A$664 billion in 2014 (42 per cent of GDP)
  • ten of the country’s top 12 goods and services export markets were in the Asian region
  • foreign investment stock totalled almost A$3 trillion as at June 2015

inward foreign direct investment stock reached A$688 billion in 2014, up 40 per cent from 2009 figures.

Business Migration Assessment


If you are interested in becoming involved in a business in Australia, please complete our enquiry form and a consultant will contact you to arrange an appointment.

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