Australia: The lure of entrepreneurship and start up culture - NAB

Research Team at NAB, notes that 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.

Key Quotes

“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.”