Australian entrepreneurs still in action

By Greg Bell

Entrepreneurs could find themselves in search of office leasing on the Gold Coast, as it emerges that a growing number of people are hoping to set up their own businesses there. Figures from a NAB Economics survey of 1,000 Australians, suggest that entrepreneurship is going from strength to strength – and the economy is set to benefit.

How many people want their own business?

According to the NAB report, as many as a third of Australians have their sights set on starting up a new company. However, this increases to one in two among the younger demographic, suggesting that the country's future could remain with exciting new start-ups.

Interestingly, men seem more confident in their ability to run their own company than women. More than half of the male population said they had either good or excellent levels of entrepreneurship, compared to just 41 per cent of women who said the same.

What types of business are being created?

The research showed that certain types of enterprise are more popular among entrepreneurs than others. Cafes and retail were especially common, indicating that the need for retail leasing on the Gold Coast could soon reach fever pitch.

Business creation is something that the economy relies upon. Data from the Australian Bureau of Statistics (ABS) shows there has been a steady stream of new companies emerging, increasing 1 per cent between June 2014 and 2015.

Despite agriculture, forestry and fishing having the lowest business entry rate during the 2014-15 financial year, around 10 per cent of Queensland's companies operated within this sector. The ABS also revealed that construction had the most firms operating across the country on a national scale.

What does this mean for the business landscape?

NAB has already weighed up the positive financial implications that this shift will bring. It expects the trend to bring far-reaching benefits for the areas in which the businesses are located, but also the rest of Australia.

"Small businesses are so important to creating future jobs and economic growth, and understanding their motivations and needs means we can help support the right ecosystems for growth," said NAB's executive general manager for micro and small business Leigh O'Neill.

She warned that one of the biggest problems for new business owners is finding the time to establish themselves. In many cases they have already undertaken part-time jobs and have other commitments, which can make it difficult for them to get their ideas off the ground.

The ABS figures revealed that the vast majority of Australian businesses don't have any employees, making this one less area for entrepreneurs to worry about. In fact, almost two-thirds (61 per cent) did not have employees, while a further 28 per cent had between one and four.

Where can start-ups find Gold Coast commercial property?

One of the first steps for any company is securing the right premises – which is where we are able to help. The team at Ray White Commercial can guide you through the process, whether you're hoping to buy commercial property on the Gold Coast or take a closer look at office leasing.

Our experts know exactly what's available and how it can be matched to your needs, giving your business the best possible start in life. Make sure you get in touch to find out more about what we can offer in this highly lucrative area of Queensland.

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