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NAB: Australians show strong entrepreneurial desires

Published: August 9, 2016

Australia is home to many aspiring entrepreneurs, claims a new report.

Research from the National Australian Bank (NAB) showed one in three people have a desire to own their business rather than work for someone else. This increased to one in two amongst young Australians.

The survey of 1,000 people also found one in two men and 41 per cent of women believe they have good to excellent business skills that would allow them to succeed at being their own boss.

Such possible enterprises were largely cafes and retail-based, followed by IT and personal service companies.

NAB’s executive general manager for micro and small business, Leigh O’Neill, explained new businesses could play an important role in the country’s economy so it is crucial the right support is in place.

“Small businesses are so important to creating future jobs and economic growth, and understanding their motivations and needs means we can help support the right ecosystems for growth,” Ms O’Neill said.

“We’ve got a huge community of budding entrepreneurs eager to get their ideas off the ground, and it’s clear that they need more than money.”

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