Australian Business Formation – Achieving Business Prosperity in The Land Down Under
Australian business formation may not be the first thought you have when you think of opening a business overseas. The EU and Asia generally are the initial areas of interest when a business owner wants to open either the virtual or physical doors on a business start-up or expansion on foreign shores. But there are several reasons Australia is very attractive economically, culturally and financially, and deserves strong consideration when you plan to branch your business out globally.
For instance, did you know that Australian business enjoyed 68 straight quarters of economic growth before the global downturn in 2008 that saw many countries devastated thanks to the mortgage and lending fiasco? That is 17 years of consecutive economic growth, a number that is unheard of in most every country in the world. That is the kind of economic powerhouse Australia represents, and is one reason why Australian business formation is so attractive to overseas investors.
Culturally, Australian business formation delivers a unique “cache.” Being Australian has always meant a rugged, tough, wise, survivalist mentality, with a quick smile and an ethical reputation that means no more is needed than a firm handshake on a business deal. That is the type of reputation your company can instantly enjoy when you incorporate in Australia. And there is no need to pick up and move, if all you need is a virtual storefront. Keep your physical company firmly planted where it has always been, and just open a branch office with minimal local staffing in Australia.
Australian Business Formation
And financially, there has never been a better time to open an Australian business. While some countries were too financially and economically hurt by the global economic collapse that started in 2008, Australia was still solid and strong enough to be able to back incentives to attract foreign investors. The Australian Reserve Bank drastically lowered interest rates offered to certain corporate and personal business structures, and the Rudd government immediately signed into law a generous $50 billion dollar (U.S.) incentive and stimulus package. The effect was a soft landing as opposed to a financial crash for the country, and they are in better shape financially than many countries because of it. And China and many other Asian countries still depend on Australia for goods and services, so the disaster so many countries went through was diverted in the Land Down Under.
Evidence of rocket-fast economic and financial recovery was the 1.5% economic growth the first three quarters of 2009, when most countries, the U.S. included, were still headed in the other direction. This was by far the best production economically of any of the 34 OECD (Organisation for Economic Co-operation and Development) nations during that same time frame. This includes countries like the U.S., Canada, Japan, Germany and the U.K.
A solid reputation for toughness and integrity, a growing economy, and financial and tax incentives all await you in Australia. Open an Australian business today, and profit from all these benefits and more.