More Americans are planning to start new businesses abroad. Nearly one-third of Americans who are considering or planning a move to another country told MyInternationalAdventure in a study we conducted that new business opportunities abroad are a primary motivating factor for relocation abroad.
That’s not surprising given high unemployment at home - especially for young adults – and new opportunities in emerging countries where growth rates are often three-to-five times the rate of U.S. growth.
If new business opportunity is your motivation, read on. For starters, we give you an expert’s view on global start-up opportunities. We interviewed emerging-market master Jedi Steven Koltai to get his take. Our article, “Finding Entrepreneurial Opportunities Abroad,” will provide you with insights on where new business opportunities abound and how to make your entrepreneurial dreams for a new business abroad become a reality. We’ve also added a recorded excerpt from my interview with Steven Koltai. It’s about eight minutes long and provides additional insights.
For entrepreneurs, one part of the world to think about is Australia. Reuters reports that technology start-ups are at the forefront of a push to transform Australia from an exporter of iron ore to an exporter of ideas.
The Australian government has announced millions of dollars in new venture capital funding and large-scale reviews of the technology sector to help nurture fledgling technology companies. Australia also is investing billions to bring high-speed Internet to the entire country.
Currently, online and technology start-ups account for about 0.1 percent of gross domestic product (GDP) and 9,500 jobs, but the sector could reach 4 percent of GDP and 540,000 jobs by 2033.
For Americans, Australia offers very few barriers to entry, a familiar legal and corporate framework and a straightforward business culture. If you want to join the entrepreneurial surge down under, you should know that the World Bank (2012) ranked the country second out of 183 countries on its Ease of Starting a Business Index and fifteenth on its Ease of Doing Business Index.
Photo Image: EDHAR/Shutterstock.com