Young, international and with no money – pretty tricky characteristics to have as founders of a tech project. The Friend Theory founders share how the experience has been so far as entrepreneurs in Australia!
No matter what the context is: Your nationality, age or background… If you really want to set up a company, is going to be a BIG challenge. If you have no money and you’re in your 20s… Well, it will obviously make it a lot harder. This the context that Friend Theory founders faced when they quit their jobs to pursue their dream project.
But… Why did they decide to make it even more complicated by starting it up 40,000kms away from their home? Simple – Australia is great for aspiring entrepreneurs.
Here are a few reasons why we highly recommend aspiring entrepreneurs to pack their bags and come to Australia to pursue their dream venture.
Part Time Salaries – Make a living out of working Part-Time 😎
Unbelievable but true. We’re talking about a minimum wage of $18.29 per hour, so you can easily find a part time job and make AUD$20-25 per hour, even if they don’t require any particular skills (e.g. Waiter).
This is a key aspect. At the end of the day, if you want to get your project off the ground, you’ll need enough time to make it happen.
On the other hand though, most new businesses take time until they hit positive cash flow, and you are going to need to cover some immediate personal expenses along the way, like rent, food, transport…etc. Even if you’re living like a monk, these expenses can be fairly high, so in most of the countries you would need to work full time to cover these costs.
It is true that cost of living in Australia is quite high, but salaries are so high that by working on a part time basis you’re be able to cover your expenses. And the best part of this – you will have plenty of time to allocate to your business.
This is a simple comparison of Spain (where 2 of our co-founders come from) vs Australia:
Spain 🇪🇸 Australia 🌏
Minimum Salary per hour (in AUD$): $8.6 Minimum Salary (in AUD$): $18.29
Working Part time (20h per week): $688 Working Part time (20h per week): $1,463
Cost of Living (Madrid)*: $990 Cost of Living (Melbourne): $1,205
The Entrepreneurial Scene – Currently booming 🙌
One of the hardest parts of being an entrepreneur is how lonely you can feel when you get it started. Most people work at companies and starting up your own can make you feel like ‘the crazy one’ sometimes. That’s why is so important to be surrounded by other ‘crazy’ people like you, so they can encourage you to not give up.
Furthermore, networking is a vital aspect of any entrepreneur’s life, as it’s an amazing source of potential partners, employees or investors.
This is something Australia excels at.
In both Sydney and Melbourne, the biggest entrepreneurial hotspots in the country, you can find loads of weekly Startup related events – from pure networking events to workshops. And guess what? Most of them are free 😉
It was a pleasure to be invited to talk at the CreativeCubes.Co show – one of Melbourne's best entrepreneurial hubs! We loved it!👉 Watch the full interview here: https://creativecubes.co/vlog/friendtheory/
Publiée par Friend Theory sur mardi 10 avril 2018
Lifestyle – As smooth as it can get 🌿
As an entrepreneur, having to solve 1001 different problems on a daily basis is part of the standard routine. This lifestyle can already be mind burning, so the very last thing you want is to add other outside problems on top. The last thing you need is to live surrounded by chaos that will eventually stress you out even more.
Australia is considered one of the most liveable countries in the world for a reason. The streets are safe and clean, the weather is not extreme, you can easily find free outdoor activities to do, it’s a culturally open country and the public transport just works properly (well, the latter doesn’t apply to Sydney…). This means that outside the office, it will be quite unlikely to get frustrated with the environment around you, as the country just works as any other country should do!
People – Friendliness at its finest 🍻
So working 60 hours per week (20h to make money + 40h on your personal project) is obviously not a standard weekly routine, so you can’t pretend to live like any other 9-5 person out there – you’ll need to restrict the amount of hours you spend on building up your social life and make it as efficient as possible.
This is not a problem down under. The amount of social events happening every day is incredible, so whenever you find the time to enjoy yourself and make some new friends, you’ll have a great variety of options around you. Moreover, Australians tend to be pretty approachable and friendly, so that’s also a plus for the shy ones.
This characteristic was probably out of all of them the most important one for the Friend Theory team. As a social project, we needed to be in a social environment. We needed to be surrounded by an open minded local community where we could also find people from other corners of the world – and there’s no better place in the world than Australia for that!
Bureaucracy – Simple and reliable 💼
If you’ve already started working on your personal project you already know the feeling – the first proper headache you get on the entrepreneurial journey is the legal one. Although this is probably the most boring part of the journey, it’s crucial to get it right or you can get sued or even lose the company later on. For this reason, going through it in a foreign country can seem like a bit of a crazy move, but not in Australia.
It’s surprisingly simple to register a business or anything related to it, like IP or Trademarks, (as long as at least one of your partners is either Australian or an Australian Resident).
These are just a few of the reasons why we decided to move to Australia and start up our project here. But, what about you? Thinking of taking the step?
To be honest, one of the greatest things was the fact we already knew people in the country, which made it a lot easier to settle down and start working straight away.
Do you have any friends in Australia? Or… Would you like to find the friends you have in Australia that you don’t know about yet?
In this case, it’s time to join the Friend Theory! It’s easy as signing up on friendtheory.com. And by the way, we post the most epic content ever, so make sure you follow us on Facebook and Instagram to stay tuned with exciting news about the project!