DOING BUSINESS IN AUSTRALIA
Doing Business in Australia
1. Doing Business in Australia
Ease of Doing Business
Australia secured 14th place among 190 economies in the ease of doing business list, according to the World Bank annual ratings. Australia has one of the strongest, most competitive, open and flexible economies in the world and is the leading financial center in the Asia Pacific region. The Australian Securities Exchange, previously known as the Australian Stock Exchange, is among the 15 largest exchanges in the world with a market capitalization of A$1.5 trillion.
To see Australia’s economic conditions and business indicators, this is a useful site: https://www.focus-economics.com/countries/australia
Source: https://www.austrade.gov.au/news/economic-analysis/ease-of-doing-business-in-australia-remains-strong
Starting a Business in Australia
Australia is ranked as the seventh easiest place in the world for starting a business. It only takes two and a half days to register a business in Australia, compared to OECD High-Income group and East Asia & Pacific economies, which averages 8.5 and 22.7 days respectively. In terms of steps that business operators in Australia must complete, Australia has 3, OECD High-Income group has 5, and East Asia & Pacific economies have 7 steps, on average (ATIC 2017)
ATIC: Australian Trade and Investment Commission
For information about starting a business within Australia from overseas, you may refer to the Department of Industry, Innovation and Science:
https://www.business.gov.au/info/plan-and-start/start-your-business/coming-to-australia-to-start-a-business
2. Investing in Australia
Australia provides a safe, easy, low-risk environment in which to invest and do business. Foreign companies wanting to invest within Australia can refer to Australian Trade and Investment Commission (ATIC) for comprehensive information and guide to investing:
https://www.austrade.gov.au/international/invest
Other useful links:
Handbook: Doing Business in Australia - An introductory Guide
https://www.pwc.com.au/legal/assets/legaltalk/doing-business-australia-2016.pdf