It is difficult enough to relocate to a new country, endure the huge financial costs of relocation, the disruption to your family life, face the uncertainties associated with one’s career, the need to find employment or to start a new business venture. The process of either investing in or starting business is difficult at the best of times, but is even more difficult for an immigrant to a new country, like Australia.
Starting a business in Australia – the challenges
Lack of local knowledge and customs, business methods which business, labour legislation, market research, market knowledge, property and consumer legislation, are just some of the possible hurdles that a new immigrant may encounter when investing in or starting a business in Australia.
Talk to someone who has been on this journey
Our Director Barry Spanger faced many of these similar problems 20 years ago when he first emigrated from South Africa. He started a business in Australia, which over 12 years, became a market leader in its industry. During that time, he gained valuable knowledge and experience in acquiring and operating his business, which he finally sold about 4 years ago.
Barry says, “I wish that when I was investing in my initial business in Australia, there was someone available and trustworthy, who could have guided me through the process, and pointed out the possible pitfalls. Even although I had had a successful business career before I emigrated, I discovered that this was not enough to ensure that my business venture would be as successful here as it was in South Africa”.
“Besides the obvious cultural differences which could affect the manner in which business is done, in retrospect I did not have enough knowledge about local business conditions and ended up making a number of poor decisions, which cost me some money, and impeded the initial growth of the business.”
“While it was helpful to obtain financial and tax advice from my Accountant, having not actually invested or run their own trading or manufacturing businesses, they were not sufficiently equipped to assist me in aspects such a market evaluations, business planning, recruitment, selection and management of staff”.
“I felt this same limitation when dealing with Business Brokers, who, because of their ultimate aim of selling a business, were not well equipped to provide strong and unbiased advice and guidance.
Starting a business in Australia – How ClientEdge can assist
At ClientEdge we believe that we are well equipped to assist new immigrants thinking of starting a new business in Australia or investing in a business.
While Barry Spanger is well versed in providing practical assistance to immigrants interested in a new business venture, all our Directors have had many years experience in either running their own business, or assisting hundreds of entrepreneurs to grow their businesses.
Our services include:
- Undertaking market surveys in order to confirm the potential growth of a business.
- Liaising with Business Brokers or Accountants relating to the purchase of a business.
- Drawing up a Business Plan and Financial Budgets. Essential to keep you on track.
- Assisting in the recruitment and selection of staff, and setting up a Human Resource Management program.
- Creating a Marketing Plan, which will be used to guide the future growth of the business.
- Provision of ongoing mentoring support, assisting you with future decisions and the direction of the business.
If you are looking at investing in, or starting a business in Australia, give us a call today on 03 9524 3150 for a free discussion about how we can help you along each step of the way, making the process less stressful and ultimately more profitable.