Business services
Business Services in Australia
Put very bluntly and as a generalised statement not meant to offend, the single greatest obstacle to South African businessmen settling in quickly in Australia is their foolhardy denial that they need any help. They wrongly assume that their success in South Africa proves that they can make it anywhere and that they already follow ‘best practice’. That simply is a wrong assumption.
We have seen so many South Africans thinking, speaking and acting in a way that leads others to believe that they are beyond the need to receive any sound advice.
We hope to caution South African migrants that their sense of independence can jeopardise an otherwise successful relocation to Australia. South African pride – in a negative sense – can be seen from a long way off and it does not sit well with the average Australian. This is particularly true in the business world where South Africans, on the other hand, are diligent workers not stuck in a comfort zone of entitlement. This attitude towards life stands them in good stead as they conduct themselves in business.
We will discuss some of the aspects of Business in Australia that applicants of business visas to Australia will need to address.
Prevention is better than cure. It's a daunting task to invest a large amount of money in a country where you face a new social, cultural, legislative and environmental context and where assumptions - large or small - can turn out to be very costly, if not detrimental to your personal financial situation.
That is why conducting a thorough due diligence review of the business you are looking to invest in is very important. Some Australian business owners who want to sell their businesses target South Africans and Zimbabweans because they presume they “are desperate to get out”. That way they achieve a time scale and price closer to their expectations.
We recommend that you have a due diligence done on the entire business, not just the financials. Speak to the people at Quasar Advisory Services who can help you in this regard.
It is worth noting that the vast majority of migrating business owners not only have a change in business and social context, they also, by virtue of their need to secure a suitably priced business, often find themselves entering into a new industry altogether.
A proper review and due diligence review serves as a handy platform for arriving business people to be educated and informed about entering their new business environment or industry. Contact us by clicking here to find out more. There is no ‘going rate’ - it depends very much on the service provider. That said, you can expect to pay around 0.75 – 3% of the business’s turnover or a minimum of $6,000 for a proper review.
If you are merely going to look at financials, which is something we strongly advise against, do look for entries such as “Superannuation Guarantee”, “Workplace cover”, “Payroll tax” and other relevant taxes. Refer to the Australian Taxation Office or the relevant state / territory’s policies on for greater detail on taxes and levies.
The department of immigration (DIAC) will require applicants for business visas to submit a detailed business proposal of the business they are looking to buy into. You can do this yourself or you can hire someone to do it on your behalf.
In regards state / territory sponsored business visas, each has a different expectation in terms of the format and level of detail required for these business proposals.
The going rate is between $1,100 and $2,000 – you’ll pay more in the metropolitan areas.
We refer you to Quasar Advisory Services who render services in this regard. Email us by clicking here to have someone contact you.
It is said that Australia enjoys a ‘bottom-up’ culture as opposed to the ‘top-down’ culture found in South Africa.
Therefore, Australia not only offers new business opportunities it also offers new business challenges in the way of dealing with staff culture and expectations, customer needs and communication as well as effective industry networking methods.
We cannot advise on business culture or leadership integration but we suggest you speak to the people at Quasar Advisory for some direction. Email us by clicking here to have someone contact you.