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| Australia Business Formation | |||||||
Australia business formation is simple, the country ranking a high 9th place in the World Bank's Doing Business 2010 Survey.
Australia has the world's 13th largest economy in terms of economic output, and is the world's 17th wealthiest country in terms of gross domestic product (GDP) per capita. In summary, Australia business formation is appealing to global investors due to sustained economic growth averaging 3% in the last 16 years. The following is an overview of Australia's business environment and its implications for Australia business formation. | |||||||
| 1. | Investors considering Australia business formation can apply for a range of grants and incentives. AusTrade is the government organisation responsible for handling applications for financial assistance, including research and development grants. | ||||||
| 2. | Because Australia is a developed country with a sophisticated economy, Australia business formation enhances the image of entrepreneurs conducting global trade. Your clients, suppliers and even potential investors will regard an Australian company positively, not least because Australia is considered a low-corruption country in Transparency International's 2009 Corruption Perceptions Index, where it ranked the 8th least corrupt. | ||||||
| 3. | Despite its isolated geographical location and harsh natural environment, Australia attracted record foreign direct investment (FDI) of US$47.3 billion in 2008 into local businesses and projects, compared with average annual FDI inflows since 2001 of US$26 billion. For instance, asset management firm JP Morgan opened an office in Australia in 2007. Australia business formation is therefore proving attractive to both large organisations and entrepreneurs. | ||||||
| 4. | Despite its remote geographical location, trade to and from Australia is encouraged by its open trade policies. It is the world's 3rd freest economy in the 2010 Index of Economic Freedom by The Heritage Foundation, and has free trade agreements with several countries which reduce import and export tariffs. | ||||||
| 5. | Australia's 3% average economic growth in the last 16 years is the second highest (after Ireland) among the advanced nation economies of the Organisaton for Economic Cooperation and Development (OECD). | ||||||
| 6. | Several investors undertaking Australia business formation choose to live and work in Australia. According to the 2010 Quality of Living Survey by Mercer Human Resources, Australian cities such as Sydney (10th), Melbourne (18th) and Perth (21st) rank highly in terms of living standards.
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| 7. | Australia boasts strong intellectual property rights protection laws. Consequently, innovators and inventors find Australia an attractive location in which to do business, obtain patented technologies, trademarks and copyrights. As a result, Australia business formation is an optimum solution for many investors. | ||||||
| 8. | Australia’s economy is exposed to fluctuations in the performance of Asian economies, particularly China, a leading market for Australian minerals. Furthermore, investors planning Australia business formation should consider Australia's high tax burdens (see our Tax Planning in Australia page for more details). | ||||||
| 9. | For more detailed information on the economic background to Australia business formation, purchase our Asia Business Setup book. | ||||||
| Other Information | |||||||
Refer to the following links to readmore about Australia company formation: | |||||||
| Contact Us | |||||||
For more information on Australia business formation, email email@healyconsultants.com or call us in Sydney at +61 280 147 568 | |||||||
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