Entrepreneurs trotting the globe in search of the next, new, potentially lucrative venture might consider Australia’s Melbourne as a possible place to start, or even invest in, a business. The city’s economy is a robust one home to a number of industries. Among the most popular industries are tourism, technology, manufacturing, finance, retail, hospitality and events.
Those with the time and the capital might find the city attractive for a number of reasons.
Whether it is taking advantage of one of Australia’s finest co-working spaces or just enjoying the benefits of business diversity in the city, Melbourne promises entrepreneurs a return on their investment. With one of the most business-friendly environments, the city is an entrepreneur’s paradise.
Let’s take a look at just some of the reasons why Melbourne is an attractive city for entrepreneurs to set up in.
Start-Ups
Melbourne has one of the most thriving business scenes. With businesses ranging from small, to medium and large, those looking to start new ventures will find themselves working in an atmosphere amenable to helping new ventures get off the ground. With an amalgam of resources to tap into, entrepreneurs have a well of experts like consultants, coaches, and brokers that can serve as mentors who will help you navigate the business terrain.
Technology
Among the many tech-industries that drive Melbourne’s economy, clean and bio-technologies make up Melbourne’s industries. The city boasts some of the most successful international tech companies in the world. Zendesk, Slack, Square, and Hired are some of the more well-established businesses that work right out of Melbourne. In terms of finance, the city generates in the billions of dollars yearly in digital technologies.
Affordable Leasing Options
As an up-and-coming international locale, Melbourne is a great place to start a business, test out markets or to expand your company due to the number of affordable leasing options the city offers. Real estate markets tend to be slightly lower than in other places as well, and even if these rents are too expensive, there are many other alternatives to the traditional lease.
Melbourne’s virtual office and coworking communities offer start-ups, and the self-employed a cheaper alternative to conventional spaces. In addition, they provide them with the opportunity to network and collaborate in a nurturing environment. With a variety of alternative office leasing options to choose from in the city, entrepreneurs can not only find they are a part of a community, but they also get the greatly needed support that can help you with getting your business off the ground.
Infrastructure
Melbourne’s intricate infrastructure can make setting up and running a business much easier for entrepreneurs. Its transportation system, which includes one of the best tram systems in the world, lends itself to assisting the business community in terms of navigating traffic in and out of the city. With a well-planned out travel system, the logistics of running a business can be accomplished more efficiently, whether it is making deliveries or attracting clients to your business.
In addition to its road and tram system, many of its buildings are outfitted with the latest technologies. As home to many technology companies, Melbourne’s existing business interest would naturally use this quality to their advantage. For entrepreneurs looking to take advantage of IT technology, this city would be a great place to start a business.
Variety Of Businesses
One of the greatest advantages to starting a business is that the city is the birth to a number of industries. Because of this variety, entrepreneurs might find themselves benefitting from the diversity of business interests in the city. This variety also lends itself to many opportunities to network and collaborate in the city.
Melbourne’s Potential For The Start-Up
Entrepreneurs can tap into the wealth of resources Melbourne has to offer savvy investors. With a variety of benefits to potential business owners, the city has become an international locale that can help nurture your business as it grows. Whether opening your business in one of its sophisticated financial districts or incubating it in a trendy co-working locale, you’ll find Melbourne has numerous benefits outside the ones listed here.
