While Sydney is larger, startups in Melbourne are taking off in a big way. Startups are at home here due to a supportive community, ideal size, lower costs, and pool of talented workers.
The local community has a vested interest in supporting and growing a culture of innovation. The first theme of the Startup Action Plan was how local government can continue to support sustainable growth.
Melbourne’s city council already offers forms of business consultancy by providing training classes, mentoring, and grants. The plan proposes to continue and expand upon the existing offerings. Local business consultant services are also readily available. Companies that need help with strategy can see a business consultant in Melbourne for a small business health check.
Local government also aims to connect startups with students, global and local contacts, and potential partners. Their goal is to support the building of a community of new companies to promote growth, partnerships, and competition.
Melbourne is small enough for quality networking opportunities but large enough to scale up on a global level. While the scene is smaller than Sydney’s, this can make it easier to meet the right people and get noticed by investors.
With over four million people, the city is also big enough to be a presence in the worldwide startup ecosystem. Multicultural and diverse, it is a great place to make global connections and foster international collaboration.
Office, lab, and meeting places are also cheaper and more available than in Sydney. One focus of the Startup Action Plan is providing ‘places to innovate’. A new organisation can’t really thrive without a good office environment to foster creativity and show off to clients.
Cost of living is also much lower than in Sydney, making it easier for small business’ employees to live and work. Overall, Melbourne is 10% cheaper to live in than Sydney, and housing and food are more than 20% cheaper. Public transport is readily available.
Perhaps most importantly, both native and new Melbournians have a positive, hard-working attitude. The action plan’s main theme is to foster a ‘spirit of innovation’. Innovation is everywhere and evident in the myriad of thriving young companies emerging all over the area.
So if you’re thinking about starting a local small business, go for it! Here at TR Consulting, we help Melbourne small businesses grow through smart strategies and effective marketing. If you need advice from a business consultant about a new or existing small business, don’t hesitate to contact us.