Your best business development ideas in Australia

Last activity 31 October 2016 by barryn56

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PriscillaViP27 October 2016 08:02:54

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Hi everyone,

As a foreign entrepreneur, launching a business in Australia is a fantastic project and an exciting challenge. Some ideas are likely to succeed. Some others are promising but may not work as well as intended.

In your opinion, what kind of business or industry is likely to succeed in Australia? What kind of industry or service currently unavailable or underdeveloped in the country would meet local needs?

On the other hand, what are the most common business types foreign entrepreneurs would be eager to launch in the country but with very little chance of success?

Thank you for your insights.
Priscilla

barryn56Member31 October 2016 04:42:25

You either need to keep to what you know, or get people in who can address a market based on good research. I would not necessarily focus solely on a local market - if you are from overseas, there may be a local market from others from your country or background; alternatively people back in your country might be a market for Australian products or services. The biggest issue in Aus is access to private funds, when compared to the US. Crowdfunding is an interesting way to consider, but there's still a large up front investment in building an initial social media following and an advert (video) for the products or services. Some meetup groups might be worth going to, but I suspect many there will be in the same boat looking for funds, rather than offering to invest.

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