When considering founding a startup in Australia, it pays to be persistent. Many people find the journey to success isolating and challenging, particularly at first. However, there is a wide range of support available, from incubator and mentor programs to online resources. Many entrepreneurs are from outside the country, and increasing number are women, though men — especially those 35 to 40 years of age — continue to drive the majority of startups. The early days of a startup can be difficult, as a recent survey showed that 4 in 10 companies had no revenue in their first year. But those who are prepared and are willing to make sacrifices can be successful.
- Today’s entrepreneur has access to a variety of help and support that didn’t used to be so readily available.
- Women are less than a third as likely as men to launch a startup business, even though female founders are starting to be more common.
- The common causes for problems with founding or sustaining a new business include regular cash flow, demands on income, lack of skills, and low confidence.
“Startup Muster released their 2017 annual survey results last week which highlight the developments in the Australian startup ecosystem.”