Entrepreneur Academy Launched To Energise Australia And Avoid Business Failures

30 Jul 2014

Successful Aussies to assist budding entrepreneurs to boost success rates, increase employment and reduce the high failure rate of new businesses in Australia*

Sydney, July 30, 2014 – An initiative designed to help new Australian businesses start to grow and succeed and provide budding entrepreneurs with the necessary and important skills and tools to avoid the pitfalls and traps, was launched today by the Federal Minister for Small Business, the Hon Bruce Minister Billson.

Start Up Australia offers a world-first Entrepreneur Academy, free of charge, and available to anyone thinking of starting their own business, but lacking the necessary skills, confidence and information required to make it a success. 

Top Australian entrepreneurs will mentor and inspire participants during an online five-day conference, where 50 of Australia’s business leaders will give away their secrets for success, and a 12-week free Small Business MBA, sponsored by The Fortune Institute and hosted by Siimon Reynolds, will provide a step-by-step, how-to guide. Up to one million businesses will receive free educational tools and regular webinars to educate them on how to succeed in the marketplace.

“Business is the engine room of the economy and our goal is for Australia to become the most entrepreneurial nation by 2020. We want to tell the world that Australia means business,” said Miriam Feiler, from Start Up Australia.

 “We want to create greater numbers of business start-ups here by providing the skills, encouragement, mentoring and training of people with big ideas, others who may have been retrenched, new mums working from home, retirees wanting to become self-employed, in fact, any Aussie who has ever dreamed of running their own business and wanted to have a go.”

Federal Minister for Small Business the Hon Bruce Billson said the Abbott Government’s policy agenda was designed to energise enterprise, encourage more small business start-ups, drive entrepreneurial behaviour and economic growth, and improve productivity and competitiveness.

“I am very pleased to officially launch Start Up Australia, a great initiative encouraging entrepreneurs and innovators to embark on the journey of starting and owning a small business,” he said.

“There are more than two million active small businesses in Australia employing around 42 per cent of private sector workers, making a vital contribution to the Australian economy.

“Together we need to support the inspiration behind the creation and growth of start-ups; the invention of new technologies, products and services to boost Australia’s economic activity and international competitiveness,” Mr Billson said

A not-for-profit organisation, Start Up Australia is part of a global Start Up movement formed by entrepreneurs for entrepreneurs.  It is already established in 44 countries including the United States, Britain, Canada, Chile and more recently, Malaysia. It is strongly supported around the world by respective governments and Heads of State including US President Barack Obama and UK Prime Minister, David Cameron.

Some of the Australian entrepreneurs behind Start Up Australia are advertising greats, Siimon Reynolds and Brian Sher, real estate guru,  John McGrath, with support from Naomi Simson, the success  story behind RedBalloon, online e-tailer Paul Greenberg, serial entrepreneur and dynamic businessman Creel Price, Larissa Robertson, SCO Recruitment, who took over a business that went into administration and within weeks had employed more than 200 staff and James Stevens, who established the Roses Only Group.

James Stevens said Start Up Australia was a unique opportunity for Aussies to realise their dream to start up their own business.

“Having started my own business from scratch, I know how much it would have helped to have access to successful mentors and vital information to help me avoid some of the challenges along the way. Start Up Australia is an excellent way to help grow this economically-important sector.

“I would encourage anyone who is thinking about starting a business, or is struggling in a new business, to sign up and take advantage of the millions of dollars of free knowledge and experience on offer,” he said.

Founding sponsors of Start Up Australia include American Express, MYOB, ACCI and The Fortune Institute.

American Express Australia Managing Director, Rachel Stocks said the decision for American Express to be a founding sponsor of Start Up Australia was an easy one.

“This has the potential to fuel significant growth of the Australian small business economy and we are thrilled to be part of it.  Anyone with the passion and dedication to see their dreams of starting a business realised deserves all the support and encouragement possible.”

MYOB CEO and start-up advocate Tim Reed said Start Up Australia would provide solid assistance in educating and supporting today’s budding entrepreneur and help improve the alarming insolvency rate of new businesses.

“We know it takes courage, hard work and determination to start and run a business and the rising rate of insolvency shows how much encouragement today’s potential entrepreneur needs to move a business idea into reality.

“Start Up Australia’s Entrepreneur Academy, combined with the right tools and resources such as online accounting software, can certainly help. For example, our MYOB Essentials range helps business owners keep on top of their finances, giving them more time to spend on building the business or enjoying life outside it.”

MYOB, Australia’s leading business management solutions provider, is supporting the Entrepreneur Academy as part of its ongoing commitment and dedication in helping start-up businesses succeed.

John Osborn, Chief Operating Officer, Australian Chamber of Commerce and Industry and National Campaign Director, Small Business Too Big to Ignore Campaign said his organisation welcomed initiatives such as Start Up Australia.

"At every level of government, regulation is suffocating small business and entrepreneurship. We must achieve a bipartisan commitment to making it easier for startups to establish and become successful innovators and wealth creators," he said.

To join the Start Up Australia Academy, visit www.startup-australia.com.au.

*The Australian Bureau of Statistics research showed 42 percent of new businesses failed between 2003 to 2007 and more than 30 percent since 2008. A further 1,095 Australian businesses were placed into insolvency or external administration in March 2009 and 1,123 businesses in February 2012, as reported by ASIC.New businesses account for 96% of Australia’s 2,141,280 actively trading businesses, as of June 2013. This comprises 1,306,093 sole traders (61%), followed by 514,859 businesses with 1–4 employees (24% – micro business) and 231,591 businesses with 5–19 employees (11% – small business).

For messages of support from Heads of State for the global StartUp movement, visit:

US President Barack Obama:                      https://www.youtube.com/watch?v=BwsGC8x6yBU

UK Prime Minister David Cameron:          http://www.youtube.com/watch?v=G6pbAMZbA6s

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About MYOB

Established in 1991, MYOB is Australia’s largest business management solutions provider. It makes life easier for approx. 1.2 million businesses across Australia and New Zealand by simplifying accounting, payroll, tax, CRM, websites, job costing, practice management, inventory and more. MYOB provides ongoing client support via many channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly in cloud computing solutions, and spends more than AU$30 million annually on research and development. In 2013, MYOB expanded its offerings with the acquisition of accounting solutions provider BankLink. For more information, visitmyob.com.au.