Startup City Magazine

Australia Competes with U.S in Startups

Australia ranks second when it comes to Start-up stakes than other developed countries, where U.S is the leading startup enterprise around the world; reports Michelle Hammond, from startupsmart.The research was conducted by Australian Centre for Entrepreneurship (ACE), along with Global Entrepreneurship Monitor (GEM).

According to a survey conducted last year GEM among 1.4 lakh adults in more than 50 countries,  GEM reveals that entrepreneurs are at their earliest business venture creation.ACE surveyed 200 Australian adults and concluded the result. The entrepreneurship rate has increased to 2.7 percent since 2010. According to Paul Steffens, an associate professor at ACE and QUT’s Technology Business School, this “paints a healthy picture” of Australia’s economy.

Four of five new ventures are being established as the founders have a forecast about the future and the opportunities which are awaited with the business returns. At the same time the women who are involved in handling enterprises are also more showing a statistics of 40 percent. The country is outnumbering U.S less entrepreneurs and options available are also seldom.

According to a latest research Australians are more confident to run a business than the entrepreneurs in any part of the world .Other numbers of the company say they intend to start a business in the next three years and the ones who have established a business lately have fewer reasons to quit the organization.




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