Diversifying internationally is one of the most rewarding company strategies. Despite its relatively small population size, doing business in Australia offers major benefits that can’t be obtained anywhere else. With a resilient and growing economy that has even managed to withstand the COVID-19 pandemic, the Australian corporate environment is attracting more foreign businesses than ever. Moving to Australia or opening a local arm is a simple process that will allow your business to access some of the world’s strongest market conditions.
Australia is a Wealthy & Educated Market
According to the Organisation for Economic Co-operation and Development (OECD), Australian households are ranked 7th in the world for disposable income. That means Australian consumers have more money to spare for buying products and investing in your business’ services. With a culture that correlates work and success strongly, our population believes in supporting local businesses and helping the brands they like to achieve success.
Likewise, Australians score well above the average on the OECD’s education reports, and 10th out of 126 countries for higher education and training. A population with more education and training are not only more likely to earn more money, but they also make more capable employees. Powering the future of your business means finding people with the skills and knowledge to innovate, and Australia is a market full of valuable professionals.
Fair and Regulated Corporate Market
In 2001 the Australian Government completed a major overhaul of the Corporations Act. The reforms streamlined the corporate system and its regulation, improving market integrity and offering better protection for investors and business owners. This has led to a thriving commercial environment that attracts major investment from all over the world. Businesses frequently come to Australia seeking out favourable investment and operational conditions. Low rates of corruption and solid regulation form a foundation for businesses that want to benefit from the security of a strong rule of law.
Politically and Economically Stable
Australia ranks highly among the world as a country with low rates of corruption, strong regulations, a rule of law and a stable political environment. All of Australia’s Government parties recognise that stable policy is the basis for building a stronger economy, and each strives to provide the best conditions for residents and businesses alike.
Businesses can be confident when coming to Australia thanks to a strong economy built on abundant natural resources and high levels of foreign investment. As a member of many global organisations, including the World Trade Organization (WTO), Asia-Pacific Economic Cooperation (APEC) and G20, Australia is a world player in many wealthy trade forums. Those forums include extensive deals that offer free trade with other major economies, accessing a diverse range of wealthy consumer markets. Together, these factors have powered Australia’s consistent economic growth and allowed the country to weather storms like COVID-19 and China’s bubble burst.
Access to Asian Markets
Often referred to as the gateway to Asia, Australia straddles many Asian time zones and offers businesses easy access to the world’s largest markets. Approximately three-quarters of Australia’s two-way trade already occurs within the Asia-Pacific region. Our proximity and trade agreements give Australian businesses easy access to these international partners. Location, combined with favourable corporate conditions, makes Australia the ideal base for businesses looking to operate in Asia while still taking advantage of Australia’s stability and resources.
Contact Australian Corporate Governance and Establish Your Australian Business!
Australian markets offer some of the most tempting conditions in the business world, and a growing number of foreign companies are investing. A wealthy economy and stable political environment lend themselves well to corporations of every size. Establishing an Australian presence is simple, and the experts at Australian Corporate Governance can help. We will work with you to research markets, develop a local presence and ensure your business is properly registered and compliant. Speak to us today to find out more about how we can help you begin trading in Australia.