July 20, 2016

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.

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: