Besides the famous beaches, the great weather and the relaxed lifestyle, Australia is also an attractive location for Foreign Direct Investment (FDI) and for companies expanding their services and product offerings to the “Land Down Under”.
The Australian Trade Commission (Austrade) has recently released a report, highlighting Australia’s attractiveness for FDI.
According to Austrade, the total trade between Australia and the European Union in terms of goods and services has increased from AU$ 77,525 million to AU$ 79,338 million a year in 2013 with the EU ranking as Australia’s second most important export and import trade partner after China over the last 5 years.
Especially the import volume of all items including goods and services is gradually increasing currently, amounting to AU$ 57,266 million a year in 2013.
These figures suggest that it is worthwhile investing in Australia. Whether it is starting a business from scratch, or simply looking into expanding your business in the Australian market, there are several considerations to be made which can be tricky.
At first glance, Australia is an easy place do business – for instance, it takes only a few hours to register a business name and to get an Australian Business Number (ABN). However, once you start looking into how to enter the market, who and how to employ, labour laws, accounting and legal environments things quickly start to get a bit more complicated.
Oftentimes, in medium sized businesses, there is no time and no resources available to speak to several service providers to gather this information.
This is where Polyglot Group comes into place. For the last 20 years, Polyglot has been helping overseas companies to set up operations in Australia.
With our cross-cultural expertise and experience, we offer recruitment, HR and Payroll outsourcing, office space as well as business services tailored to overseas businesses starting their operations here.
For many years we have also been working with our trusted partners on cross-cultural expertise in accounting, law and IP/Trade Mark protection as well as product registration. Through these operations, we can offer end-to-end services for any company entering the Australian market.
At Polyglot Group, we usually give potential clients a free general overview of what to expect, look out and budget followed by introductions to our trusted partners. We assist in preparing more detailed reports for our client, specific to their circumstances.
We then help with the registration of the business, potentially offering a business address and office space if required, helping to find the right employees, preparing employment contracts, taking over payroll and the HR functions for these employees in Australia. Naturally, clients can pick and choose what services they require from us and our partners.
Polyglot Group is a one stop shop for all businesses wanting to invest or grow in Australia. If you are seeking to start your business here, but in need for some useful advice, please feel free to contact our consultants.