INFOGRAPHIC: Why Australians start businesses
It seems Australia doesn’t just have a two-speed economy – it also has a two-speed start-up environment.
While a small minority of new ventures prime themselves for Silicon Valley or rapid expansion into Asia and beyond, the majority of the 300,000 fresh-faced businesses that emerge in Australia each year have different goals.
This week, a major study by Google found that tech start-ups could add $109 billion to the Australian economy by 2033.
However, previous research by the search engine giant found just 4.8% of new Aussie ventures evolve into viable, global powerhouses.
So why do Australians start-up and how do they do it? Small business accounting software firm Intuit has created the following infographic that provides a handy snapshot of our start-up landscape: