Not many people know that Australia is one of the best countries in terms of living standards. This is what international researchers say. In the world ranking, business immigration to Australia ranks second among other countries. According to the Australian Bureau of Statistics, more than 150,000 entrepreneurs come here every year. The rush of foreigners is caused by the state program to support novice businessmen. Thus, the country attracts investments from abroad to its own economy.

Starting a business from scratch

It's one thing to register your own business, but it's quite another to get it back on its feet in a foreign country with foreign customs. In Australia, there are no interruptions in work, but it is very difficult to find workers. This is due to the vast territory of the continent and low population density. Sometimes it will take tens or even hundreds of kilometers to move from one locality to another.

Therefore, the first responsible decision is to decide on the locality of the continent. 89% of the population is concentrated mainly in large cities. In the case of small businesses, this is where you should aim.

At the stage of small business formation, state centers provide free support for information, consultations and training of personnel. The financial assistance of the state begins only from the moment of proving the viability of the case.

Remote mining and chemical facilities are suitable for investment. Another intensively developing area is the construction of residential buildings. It is important to understand that the profit from the invested funds will not come immediately.

It is a mistake to believe that running a business is about the distribution of roles, where the entrepreneur is at the helm of the company. At first, you may need to independently manage all stages of your business in the role of an accountant, buyer, advertising designer, etc.

By the way, Australian banks have established themselves well in the global financial market. They are reliable, convenient and fight for their customers in every possible way. Therefore, with a good credit history, you can apply for a long-term loan at a low interest rate.

By law, business immigration to Australia is open to anyone. If you have a good idea in your head, and you have the right amount in your wallet, then this country will only contribute to the prosperity of your own business.

Purchase of an existing business

The first thing you need to consider when buying a ready-made business is the return on invested capital. If the funds spent are returned in a year, then the purchase is considered successful. If it takes from 2 to 5 years to get a refund, then you are in a common practice, which is also not bad. Expectations exceeding 5 years mean that the acquisition is unprofitable.

On the one hand, the purchase of a ready-made case can solve a lot of problems, such as: whether the applicant has sufficient assets, a business plan, and the profitability of the case for the Australian economy. On the other hand, there is a risk of not recouping the funds spent if the accepted business turns out to be unprofitable.

Taxation in Australia

Taxes in Australia are levied on all resident income, regardless of which country it is received in. In order to avoid double taxation, the Australian government has introduced a system of discounts and benefits that are tailored to the specific situation.

From the beginning of the financial year (July 1), a citizen is required to fill out a tax return, which indicates all income for the year. By 31 October at the latest, the completed form will be sent to the Tax Administration.

Taxes in Australia are the same for both its citizens and immigrants. The tax rate of a non-resident of the country is set only on profits. The resident pays tax on the total income.

It is interesting to know that the rate of state duty directly depends on the amount of income. For example, the tax on average earnings is 19%. As it increases, the rate increases from 32.5% to 45% on profits. It turns out that the higher the earnings, the more you need to give to the state.

For the period until 2024, in order to boost the Australian economy, the government has introduced an additional duty - plus 45 cents from each Australian dollar on profits on incomes over 180 thousand.

What are the most popular areas of business?

The main question of interest to novice businessmen is: where is it more profitable to invest in order to get the maximum return? Having analyzed all areas of activity, experts confidently stated that in the "country of kangaroos" it is extremely unprofitable to open your own production with workshops.

Firstly, because of the high cost of rent and high taxes. Secondly, China has already taken over the entire production capacity of the country. Even with transportation costs, the cost of imported products will be cheaper than goods produced locally.

But small businesses and the service sector are very popular in Australia.

Small engineering firms live well here, especially if its founder is a representative of the IT sector. No wonder Australia is considered a paradise for programmers. Mining companies often need their services, bringing companies a lot of income.

Another popular area is the service sector:

• babysitting services;
• partial or full care of the elderly;
• On-site repair services (plumbing, electrics, etc.).
• services for the care of the disabled;
• home delivery of food and drinks;

Australians are always willing to pay to make their lives easier.

Few people know that Australia was one of the first countries to introduce a system of distance education for children. The circumstances are such that children living on remote farms simply do not have the opportunity to attend a regular school. That's why they teach lessons on cable TV, and they send tests by e-mail.

The vast expanses of savannahs favor the development of the agricultural industry. Cattle farming, which is typical of Australia, also benefits from nature's bounty. An established sales market satisfies not only domestic needs, but also the insatiable appetite of neighboring countries.

The mild climate near the ocean line contributes to the ripening of the crop 3-4 times a year. But land for planting fruits and vegetables is very expensive due to its scarcity. The price of a couple of hectares of land can start at 500 thousand Australian dollars, while a ready-made farm for breeding ostriches will cost 70 thousand.

Australians are very fond of something new and unusual. For example, the opening of a themed restaurant or a small shop for the production of their own chocolate is guaranteed to be of interest to locals. And the souvenir shop will not leave visitors without attention. In general, any business that comes into contact with innovation will take root in Australia and bring income to its developer.