Emergence of Startups and Entrepreneurship Opportunities in Australia

This article discusses the emergence of startups and entrepreneurship opportunities in the Australian market. It explores the business environment, competition, and growth opportunities for startups. The article also highlights the factors that can impact the success of startups in Australia.

Running head: BUSINESS IN AUSTRALIA
BUSINESS IN AUSTRALIA
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Topic: Emergence of startups and entrepreneurship opportunities in the Australia
Introduction
The development of the businesses in the foreign markets is specifically dependent on the
factors relating to market competition, market volatility, competition, political situations,
availability of resources and the like. Organizations undertake market assessments before
establishing their businesses. The purpose of the discussion is to identify and assess the major
factors in Australian markets for understanding the opportunities faced by the startups in the
concerned market.
Business environment in Australia
The political stability of Australia has assisted different companies to grow in the
markets. On the other hand, the free trade agreement of the Australian government with different
nations has helped in the growth of startups in the same. It has been researched that the
Australian GDP is expected to rise by 2.8% between the years 2019 and 2023 [1]. The growth of
the GDP in Australia will help organizations in maintaining the efficiency of the operation in the
markets. It has been researched that the rate of employability in Australia is reflected as
an average of 58.98 % from 1978 until 2019 [2]. The growing rate of employability and skilled
workforce will support the operations of the businesses while operating in the Australian
markets. Most essentially, the enhanced quality of living in the Australian populations through
greater affordability will support the startups in maintaining an elevated sales volume. It has
been researched that Australia is a highly developing economy, which has potential
infrastructural and technological growth. The infrastructural and technological growth will be

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helping the startups in for making a huge expansion through the utilization of supportive
industries.
However, it has been researched that the enhanced competition through the engagement
of huge number of existing companies might restrict the potentials of the startups in capturing
the attention of the customers. The intense competition among the different industries in
Australia might restrict the expansion of the startups. On the other hand, it has been researched
that the regulations imposed by the ACCC (Australian Competition and Consumer Commission)
might restrict the competitiveness of the startups in the Australian markets [4]. Therefore, it
might be stated that there are specific advantages and disadvantages that might be faced by the
startups while making a market expansion in Australia.
Growth opportunities in the Australian markets for new startups
The major growth opportunities that are faced by the startups are dependent on the
quality based needs of the customers. It has been researched that the more than 67% of the
Australians prioritize the quality of the product or service offering over the price [3]. Therefore,
the USP (Unique Selling Proposition) of the startups holds a greater prospect for the same. It has
been researched that the most of the customers utilize the online shopping options in Australia.
Therefore, the startups must make use of the digital platforms for reaching out to the customers.
On the other hand, it has been researched that the number of vegan customers are growing,
which is again a prospect for the startups in the Australian markets.

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Conclusion
Therefore, from the above research it can be stated that there are certain levels of pros
and cons for a startup while expanding in the Australian markets. The different factors that was
discussed as a part of the research helped in identifying the opportunities encountered by the
startups while expanding in the Australian markets.

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References
[1] Statista. Australia - Gross domestic product (GDP) 2022 | Statistic [Internet]. Statista. 2019
[cited 10 April 2019]. Available from: https://www.statista.com/statistics/263573/gross-
domestic-product-gdp-of-australia/
[2] Statista. Australia - employment 2009-2019 | Statistic [Internet]. Statista. 2019 [cited 10 April
2019]. Available from: https://www.statista.com/statistics/795217/employment-in-australia/
[3] Barrett R. Innovation rhetoric and reality: an introduction to the TIM Review's Special Issue
on Innovation and Entrepreneurship in Australia. Technology Innovation Management Review.
2016;6(6):5-10.
[4] Davila A, Foster G, He X, Shimizu C. The rise and fall of startups: Creation and destruction
of revenue and jobs by young companies. Australian Journal of Management. 2015 Feb;40(1):6-
35.

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Appendix
Appendice 1
Figure 1: GDP projection from 2012-2022 of Australia
(Source: Statista)

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Appendice 2
Figure 2: Employment rate projections from year 2009-2019 of Australia
(Source: Statista)