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An Assessment of Doing Business in Sydney

The mention of Australasia as a business hub always evokes the images of the great cities in the region. Over the last few years, many multinational businesses and even small scale investors have been flocking down low and Asia as they realize the immense opportunities that lie in the region. Though there are many great cities such as Hong Kong, Melbourne, Tokyo and many others, one of the most outstanding cities must be Sydney. Doing business in Sydney has a plethora of benefits and when you look at statistics, it is obvious that many companies have confidence in this gateway to Australia.

a) Sydney's Solid Reputation 
According to a New South Wales government Initiative Survey carried out in 2007, there were over 425,000 businesses in Sydney. Further surveys by Destination Sydney indicate that over 600 of Asia-Pacific Multinationals operate from their Sydney base while of the top 500 companies in the Austrasia region, 45% operate from NSW whose focal point again is this great city. To further augment the argument that doing business in Sydney is the best option for your business, consider the fact that the gross domestic product of NSW State whose capital is Sydney was about 31.7% of the country's total.

b) Available Human Capital 
The reasons for doing business in Sydney are not based only on the fact that statistics are on its side. As a new business, you will be in great need of local expertise especially in business administration, accounting and legal work. In Sydney, you will get an impressive workforce with most people having undergone tertiary training. As such, recruitment processes for your company will be easy and business will flow seamlessly with your other satellite operations throughout the world. In fact, a report by the NSW Government indicates 57% of the state's population is highly skilled with a strong backing of tertiary schooling.

c) Favorable Business Environment 
One of the most challenging aspects of any international business lies in the legal business structure. Most global cities will kibosh your efforts in establishing a solid base as they have convoluted legal frameworks which cause incessant delays in setting up operations. When doing business in Sydney this does not arise because the Australian national political atmosphere has been stable for years and international trade is highly encouraged and incentivized. Moreover, with FTAs with countries such as the US and Singapore among others, you can safely set up business knowing your business will benefit from some of these agreements. There are many solicitors and registration agents who will make the whole registration easy and within no time, your company will be enjoying or these concomitant benefits.

The list of benefits that you accrue from doing business in Sydney is endless. Consider for example the ideal Time Zone that ensures opening of trade ahead of other Asian Cities such as Tokyo and Singapore while also transcending the period between close of business in the US and opening in Europe. Furthermore, the cost of carrying out your operations from Sydney is also lower as compared to its contemporaries in the region especially when it comes to rental and taxes. In the 2010 Mercer's Worldwide Quality of Living Survey, the city ranked an incredible 12th out of 221 cities reviewed. Probably the reputable MasterCard World Centers of Commerce (WCC) index for the Australia region which ranked Sydney fifth sums up why doing business in Sydney is the most strategic decision any business executive can make today.

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2019-07-16 14:33:49
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