Why Sydney is the Best Location for your Startup
With startup ecosystems becoming more connected, and the teams running them becoming more globally focused, the right location to establish, or expand your startup has never been more important.
For over 20 years, we’ve been helping international businesses set up and expand in Australia. And we believe that Sydney is Australia’s very own global city.
But if you need convincing, let us argue the case, with the following six reasons why Sydney is the best location for your startup.
Note: This post originally appeared on the Penguin Management Services blog.
Welcome to the Ideas Boom!
It’s not hard to find new startup friends here in Sydney. We have many independent grassroots bodies helping entrepreneurs, enablers, and networkers nurture startups.
There’s Fishburners, a non-profit community for startups. iCentral, a co-working community, specially for tech startups. Co-working powerhouse WeWork is coming soon to the CBD, and Pyrmont too. Come and rub shoulders with an international hub of 30,000 creators, entrepreneurs and self starters.
We have the Tyro FinTechHub, right in the heart of the city. FinTech investors, such as Robinhood and Macrovue are headed this way too. Did you know that Australian FinTech startups raised 14% of the global total raised around the world in 2015? Yes, we did!
We’re not short on home-grown talent either — Sydney is Australia’s startup capital. Recent notables that have started right here include Atlassian, freelancer, Canva, and DesignCrowd. There’s FinTech startups too — stockspot, Tyro, and Invoice2go.
Transitioning from its resources boom to a new, more diverse economy, the Australian government wants you here as well. Announced last year, a $1.1 billion investment, to be spent over the next 4 years, as part of the Innovation and Science agenda.
Does your startup need funding? The innovation agenda includes a range of new tax incentives for early stage investments in innovative, and high-growth potential startups.
A taste for retail
Our insatiable consumer appetite shows no signs of slowing either. The global retail invasion continues into 2016/7, with dozens of new & luxury international brands set to make their entrance into Australia.
Capitalising on its growing momentum, brands from all corners of the globe are looking for retail space in Sydney.
Car makers, Audi, and Tesla. Fashion houses such as Dolce & Gabbana. French luxury giant Kering, the owner of brands Alexander McQueen, Balenciaga and Gucci. Swiss watchmaker Breitling. All have eyes for Sydney.
With easy access to the Asia-Pacific region, Sydney is the perfect location to grow and expand your international presence in this region.
An affordable city
It’s no secret — beautiful cities cost a lot to live in. And there’s no doubt that Sydney is an expensive place to live.
However, our Aussie dollar has declined against a rising US dollar since 2014. This has resulted in a drop of the cost of doing business in Australia.
With experts suggesting an oversupply of apartments, we may see a fall in rental costs in the near future too.
A talented bunch
With its stable, low-risk business environment and diverse economy, Sydney is supported by world class financial and legal systems. We consistently attract top flight business influencers, who produce an abundance of opportunities, setting Sydney as a launching pad for the future.
The state government is also on board, welcoming new international talent, with incentives for new business migrants who plan to set up business, or invest in Sydney, and New South Wales.
Diversity
Sydney is a city that boosts the prosperity of its 5 million residents. From world class communications and a strong transport infrastructure, to businesses across a wide range of industry sectors and skills. Sydney helps people and businesses connect with each other, and with the world.
We have a passion for arts, entertainment, and food from all around the world. A myriad of cultural and religious festivals are celebrated across the city. And because of this, our residents create the often unique businesses that support them.
Lifestyle
Not forgetting of course, our famous lifestyle. Not only is Sydney beautiful, but so are Sydney-siders! We’re fun to hang out with, and have a wicked sense of humour too. Just ask us!
Our love of good coffee, fast sport, and interesting arts helps get us through the working week (and the daily traffic commute!). With a temperate year round climate, who wouldn’t be happy to live here?!
Curious about Sydney? Kick start your startup expansion plans with some helpful advice from Penguin Management Services.
