The lure of entrepreneurship: Australia’s start up culture

This NAB special report provides a unique insight into Australia’s start up culture. It explores the latent desire of many budding entrepreneurs (both younger and older) to start their own business.

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One in three Australian’s have an ambition to own their own business, proving Australia’s start-up culture is alive and well, a new National Australian Bank (NAB) report on entrepreneurship has found.

A new report from NAB Economics, surveying 1,000 Australians, reveals a strong entrepreneurial spirit among aspirational business owners.

Among the key findings of the survey:

  • Around 1 in 3 Australians would like to own their own business with young Australians clearly the most aspirational (nearly 1 in 2)
  • Over 1 in 2 men say they have “good” to “excellent” levels of entrepreneurship compared to 41% of women
  • The most popular new businesses are cafés and retail, followed by IT and personal services
  • Most budding entrepreneurs would go it alone or with their spouse or partner
  • Around 40% of budding entrepreneurs and 75% of existing business owners need/needed less than $50,000 to get their business off the ground
  • Over 1 in 3 aspirational and existing business owners would be keen to be part of “community” of other entrepreneurs

For full analysis, download report: