Ease of doing business in Australia

We are often asked the question “how easy is it to do business in Australia?”
 
The World Bank Group annually ranks all countries for the ease of doing business and Australia currently ranks in the top 15 amongst the 217 countries measured.
 
Considering Australia is a developed country that also has the hallmarks of low sovereign risk, a stable economy and competitive currency value, this bodes very well for those looking to do business in Australia.
 
The World Bank Group ranks countries based on a number of factors: -
 

  • Starting a Business

  • Dealing with Construction

  • Getting Electricity

  • Registering Property

  • Getting Credit

  • Protecting Minority Investors

  • Paying Taxes

  • Trading Across Borders

  • Enforcing Contracts

  • Resolving Insolvency

 
Of particular note is Australia’s rank in starting a business (11), obtaining credit (5) and enforcing contracts (4).
 
The first step for most businesses looking to setup in Australia is establishment of an appropriate business structure. According to independent research by the World Bank Group, Australia excels; there are only 3 steps to setup a company in Australia, it takes on average 2.5 days, the cost is 0.7% of income per capita and there is no minimum paid up capital.
 
We have worked with many businesses from outside Australia in setting up here. Whilst re rank highly for ease of setup there are some traps, which we ensure are addressed in our process.  From start to finish, we are generally able to have a company up and running complete with registration from the government authorities (ASIC and the ATO), bank accounts opened and ready for operation with 28 days, with minimal capital requirements (as low as $1 paid up capital). Very much a “de-mystified” approach.
 
Setting up business in Australia is quick, simple and cost effective.
 
Once on the ground, what businesses need is connections; “who to know”. We make it a point to provide those critical contacts for new businesses.

 
If you are interested in doing business in Australia, contact us by completing this form or view my profile for further information on how to contact me directly.

James Tng
Tax and Business Advisory
Moore Stephens WA