Australia is a unique and highly affluent market that appeals to multinational and international business for a myriad of reasons. Prosperous, conflict-free and open to new ideas and products, the Australian consumer largely spends on imported cars, clothing, electronics and intellectual property to name a few industries that are dominated by international brands and enterprise.
So what are prudent considerations for organizations looking to do business in Australia?
What business style, communication and conduct establishes trust and rapport in Australia?
Have you considered how political changes in federal, state and local government could affect the market and revenue of your enterprise?
Can you anticipate the social and ethical sticking points that could arise from your operations and impede public relations, stakeholder participation and business from your clientele?
Our accountants are seasoned experts in navigating the complexities of Australian tax law. We appreciate that the daunting task of navigating the financial requirements of companies and individuals is just the beginning of financial planning for foreign businesses looking to set up shop “Down-under”. Coupled with turbulent leadership in federal, state and local authorities, we’re here to provide companies with a solid knowledgebase in the effects of politics on the market, and how it affects public spending and consumer habits, as well as altering the legal implications for businesses.
Australians value honesty, humility and have their own unique flavor of humour – and companies seeking to capture the market and negotiate deals need to be familiar with these shared values. Knowing these values and protocols in deal-making will go a long way to establishing solid business relationships. Australians are for the most part welcoming friendly people, but are cautions of business styles that lack candor and sincerity.
As a varied and multi-cultural nation, public values political views and way of life greatly vary depending on the state, city, town or even suburb. Such knowledge is paramount to establishing strong footholds and engaging the relevant audience/partners/suppliers with your brand. For instance, there is a great difference in consumer habits between suburbs in metropolitan areas. That would be different again when compared with regional industrial centers such as Gladstone or Bendigo – in addition to differing state and local regulations.
Having assisted enterprises seeking a foothold over the last three decades, we see a strong need for on the ground responsiveness to legal, social and political changes and local knowledge when it comes to naturalizing your operations into the Australian market.
We bring our experience as business advisors and accountants to provide a virtual CFO suite of services
- Tax Law and Governing Bodies (ATO, ASIC etc)
- Business relationships, established credibility
- On-the-ground responsiveness
- Business Improvement and Advisory Services
- Back-office support
At UHY Haines Norton we’re here to help provide a tailored professional service that can assist you in the fluid transition into the Australian marketplace. We provide the added benefit of a scalable team of seasoned professionals to ensure your financial and office support requirements function smoothly, and issues are resolved quickly, correctly and in real-time. Don’t hesitate to speak with one of our specialists to discuss your support needs.
Darren Laarhoven: D.Laarhoven@uhyhnseq.com.au
Reece Jory: R.Jory@uhyhnseq.com.au
GENERAL ADVICE WARNING
This content has been prepared to provide you with general information only and has not taken into account your personal objectives, financial situation or needs. It does not contain and it is not to be taken to contain Personal Financial Advice. Before making any financial or investment decisions, you should seek advice from an appropriately licenced or authorised financial advisor.
The content was prepared by UHY Haines Norton. AFS Licence No. 483056