Building a Business Down Under
14. Januar 2016 — 6 min read
Australia has become one of the most popular destinations for expat entrepreneurs to start a new life. It’s easy to forget that the network you have around you at home won’t be there anymore, and instead you will have a whole new host of Australian customers and suppliers to choose from. Our team have given their expert opinion on what, and more importantly who, it is that you need to know when you embark on your new adventure down under.
Visas
If you have lived in the UK all of your life, there is no need to obtain a Visa before you start any form of employment because you’re a citizen. But before you even make the big move down under, you will need to apply for an Australian Business Visa. This programme encourages business entrepreneurs to settle in Australia and develop exciting opportunities. Make sure you get one of these sorted well in advance of your flight out there, as if you don’t have one you’ll be prevented for setting up and even staying in the country long-term.
http://www.visabureau.com/australia/australian-business-visa.aspx
Finance & Tax
When you set up a business on your own, tackling financial issues such as tax can be daunting, especially in a new country. Australia’s tax system is slightly different to the UK, so it is important that you receive the correct advice so you don’t end up out of pocket. The Small Business Newsroom is the Australian Taxation Office’s (ATO) online service that gives you all the latest small business tax and news in one place. It would also be worth using your own accountancy firm such as William Buck, who have some of the leading tax practitioners in Australia to give you the best advice for your new business.
https://www.ato.gov.au/newsroom/smallbusiness/
http://www.williambuck.com/Services/Tax-Services
Information Technology
Unlike the UK, in certain parts of Australia such as the Outback you can travel for hours without finding any 3G, so investing in a portable WiFi dongle might be a good idea. IT is essential to the smooth running of any business, and when you set up in Australia you will need somewhere to go for all of your computing needs. Whether it is a place to buy all of your equipment or somewhere to turn for help when it all goes wrong. In our team’s experience, Dick Smith is the number one for all things IT in Australia. They have stores located all over the country and an excellent website too, skilled to help you navigate the web in the Outback.
Delivery Service
It’s no secret that Australia is much, much bigger than the UK, which means getting a parcel or letter across to the other side of the country can be a bit more complicated. AusPost offer an excellent postage service for businesses, whether you are just starting out or are regularly sending bulk packages. There are AusPost Post Offices all over Australia, so we recommend finding your one near you to discuss the best way of going about your business’s delivery needs. Just remember, they might not be as speedy as Royal Mail Special Delivery.
Lawyers
When setting up a business anywhere in the world, it is important to make sure that you are legally compliant and aware of the specific rules and regulations that apply in that country. We advise consulting a legal professional to help you understand all of the legal requirements your new business must comply with in Australia, such as licenses, registrations, contracts, and leases. LegalVision offers a fantastic online service which means they can help you wherever you are in Australia at a cost effective price. They can draft or review any new or small business document within 48 hours, so you can be sure any of your legal needs will be answered quickly.
Premises
When you make the big move to Australia to set up your new business, one of the most important things is to actually have somewhere to work from. Because there is so much more free space in Australia compared to the UK, you might underestimate the size and cost of premises. For example a 50sq ft office is only AUD $4,000pcm (approx GBP £2,000) compared to a similar office in London for £6,000pcm (AUD $12,000). Whether it is just a small office room that you need or a multi storey warehouse, you will have to decide whether you are going to lease or buy, and of course, the location. Realcommercial.com is Australia’s number one commercial property site. You can search for the perfect office environment for your new business.
http://www.realcommercial.com.au/
Phone Networks
Mobile phones are essential for smooth communication within your business. A lot of people don’t realise that because of Australia’s vast size, different parts of the country operate in different time zones, which is not the case in the UK. For example, there is a two hour time difference between Perth and Brisbane, so make sure you get the time right if you are planning a call.
Australia has a completely different set of phone networks to the UK which all offer different contracts and deals. Our team recommend Telstra as your new business network provider, as they can help you choose the latest phones, plans, data packs and options to meet your individual needs at great prices. Currently, new customers can enjoy a generous 7GB of data for just AUD $90 a month on a Go Business Mobile L plan, when you sign up for 24 months,
Now that you're aware of the key things that will support you and your new business, maybe 2016 will be the year that you make the move to Australia to start your new life.
You definitely won’t have to worry your international business money transfers, as we have your business remittance needs covered!
While we take reasonable care to keep the information on the website accurate and up to date, there may be occasions when this is not possible. Case Studies and articles are not intended to predict future moves in exchange rates or constitute advice.
XE makes no representations, warranties, or assurances as to the accuracy or completeness of any information derived from third party sources. If you are in any doubt as to the suitability of any foreign exchange product that you are intending to purchase from XE, we recommend that you seek independent financial advice first.
For more information about XE, please click here: Regulatory Information