A portrayal of new entrants into the Australian economy (Entrepreneurial individuals and ventures) [Business Creation in Australia, Paper 1]

This paper provides a descriptive overview of the venture creation in Australia, those who participate in it and the types of firms they build. Findings of interest in this paper include: • The majority of business founders (89 per cent) state the motivation to start a new business is opportunity-driven rather than necessity driven. • The extent of under-representation of women business founders in Australia appears to be lower than international comparisons and has decreased over time. • Australian business founders tend to possess significant ‘human capital’ many are university-educated, and large shares have different types of experience that may benefit the start-up. • The major industries for start-up activities are Retailing; various service industries (Business Consulting; Health, Education and Social; other Consumer services); Construction, Manufacturing, and Agriculture. • A large proportion of CAUSEE respondents (49 per cent nascent firms and 46 per cent young firms) are members of start-up teams, which is similar to international comparisons.