Powered by MOMENTUM MEDIA
Receive the latest mybusiness newssign up
Australia relatively cheap to launch a business in

Australia relatively cheap to launch a business in

launch a business, start-up, new business

A global ranking of the best and most affordable cities in which to launch an online business includes one Aussie city among the top 10, with Australia a much cheaper destination than many other comparable countries.

Adelaide was ranked the seventh best city in the world to start an e-commerce venture – the only Australian city to make the top 10.

The UK featured heavily in the top 10, taking out five spots. Sheffield was ranked third, ahead of Nottingham (fifth), Leicester (sixth), Scotland’s Glasgow (eighth) and Liverpool (ninth).

The most affordable was in Canada, with Quebec taking out first place just ahead of fellow Canadian city Winnipeg. Montreal also made the cut, coming in fourth place.

Marseille in France rounded out the top ten.

The study, by Amazon software platform Sellics in Germany, ranked 130 cities around the world that have a strong online business presence according to a range of factors, including access to finance, the popularity of online shopping by the local population, cost of living, business establishment costs and potential unemployment benefits.

It then calculated how many months it would take residents in those cities to save the funds required to launch the business.

SPONSORED CONTENT

 

Of Australia’s five largest capital cities, Adelaide had an estimated starting cost of $36,547, just ahead of Perth on $37,975.

That was followed by Brisbane on $40,543 and Melbourne with $41,515.

Unsurprisingly, Sydney was the most expensive Australian city, with the estimated start-up cost being $53,035.

On the global stage, while Adelaide was in seventh spot, Perth just missed the top 10 coming in at 11th place. It was followed by Brisbane in 20th, Melbourne in 24th and Sydney at a still respectable 56th.

At the other end of the scale, Hungary’s capital Budapest was ranked as the worst city in the world in which to launch an online business, given that it has the highest cost of registering a new business at $5,020 while simultaneously having the lowest average monthly wage of the 130 cities analysed.

Overall, Switzerland ranked as the most expensive place to start an online business, thanks in part to the local requirement that every new business starts with a minimum of almost $30,000 in capital. But the Swiss also enjoy the highest average monthly wages.

Australia relatively cheap to launch a business in
mybusiness logo
FROM THE WEB