Total Entrepreneurial Activity
for 2004 = 13.4%
Click
here for more about TEA
World Average TEA 9.6
Asia and Oceania Average TEA 3.4 Entrepreneurship
in Australia
• TEA up dramtically from 2002 score of 8.7
• Women almost as likely as men to start new ventures
• Angel investing down very slightly, but investment
levels remain constant overall
Australia is known for the high standard of living, modern
telecommunications and transport networks, wide variety
of investment opportunities, and generally well educated
and trained workforce. These factors all contribute towards
making Australia potentially a rewarding place in which
to do business. Moreover, Australia is in a great position
to access emerging Asian markets. The combination of federal
and state incentives for those prepared to locate their
regional headquarters there makes Australia even more
appealing. However, the corporate taxation rates are quite
high, deterring some business people. Furthermore, some
may find the country's Controlled Foreign Corporation
legislation unjustifiably restrictive.
On the economic side, Australia is a prosperous Western-style
capitalist economy, with a per capita GDP competing with
the four dominant West European economies. Despite the
global economic downturn in 2001, the Australian economy
has maintained a 2.3% GDP growth. This is due to the fact
that the domestic economy is offsetting the external slump.
Moreover, business and consumer confidence remains intact.
Resources are plentiful, unemployment is low, and literacy
is at 100%.
• The population of Australia is 20 million
• They have a democratic government with common
law system.
• The government is very supportive and actively
involved in encouraging innovation and entrepreneurship.
• Australia’s TEA participation rate is 8.7
(2002)
• The proportion of participants who were motivated
by opportunity rather than necessity is 77%. (2002)
• Ethnic Groups: Caucasian 92%, Asian 7%, aboriginal
and other 1%
• In 1996 97% of businesses in Australia were small
businesses
• Small businesses employ 2.7 million people in
Australia
• Women are less likely then men to start entrepreneurial
activity
• In 2000/2001 the peak entrepreneurial activity
was in the age bracket of 35-44. In 2002 it shifted to
45-54. This is against the trend of other GEM countries.
• The majority of start-up businesses are in business
services and consumer oriented business. (business services:
providing services to businesses/consumer services: providing
services to consumers)
• Australian and New Zealand Venture Capital Firms
during calendar year 2001 spent $AUS1.65 billion.
Best
Bets
AUSTRALIA
GEM 2004 Report
AUSTRALIA
GEM 2003 Report
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on the folder to see the contents.
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Entrepreneurship
