Why Australia is a terrible place to start a Startup..
Based on all the below points, the actual cash in bank reward for an Australian entrepreneur in no way reflects the amount of risk involved in creating a successful startup.
Is the advice we should be giving to budding australian entrepreneurs - "leave australia or get a job, save your money and enjoy the australian beach lifestyle"
Note: The reason for creating this list is not to be negative, but to aknowledge all the challenges we face as a nation in creating a thriving hub for startups…
Leadership / Mentors
* Very few visionary startup leaders
* Very few experienced startup founders
* Very few serial entrepreneurs
* Very few business mentors
* Very few staff with startup experience
* Very few staff have a startup mentality
* Low level of self motivated, self learning, internet savvy professionals
* Few local engineers/programmers/Designs
* Good staff are extremely expensive
* Staff expect to work 9-5
* Few staff willing to take sweat equity (no community examples of this actually paying off)
* Very small VC/Angel markets
* Very risk averse capital markets for early stage startups
* Very small community of entrepreneurs
* Little community support for startups or entrepreneurs
* Tall Poppy syndrome
* Unsupportive government of startups - "Its just a millionaires factory"
* Very little Tax benefits to encourage startups or startup investment
* New ESOP Tax changes (or clarity of impact) limits opportunities
* High % Income Tax, Business Tax and Operational Tax's
* Capital gains tax for startups significantly reduces risk/reward
* Very few Australian companies to buy startups (low chance of local exit)
* Companies who in the past have bought startups (media companies) are in really tough times
* No IPO market
* No real market example of highly successful startups becoming global successes (minus atlassian)