What’s It Like Doing Business in Melbourne, Australia?

Australia, as a nation, is known for being quite casual and informal in initiating any form of conversation; whether formal business meetings or friendly banter with friends. This informal manner is part of the Australian culture, and it serves to establish fellowship. The expanse of the Australian population of approximately twenty-four million people is spread throughout the continent, which measures 768,685,000 ‘hectares’ or 2, 967, 909 square miles! Melbourne, Australia is the coastal capital, located in the territory known as Victoria, with a populous of approximately 4.8 million people as of 2018. This accounts for approximately twenty percent of the total population. Melbourne is the second largest city after Sydney and it is quite busy doing business, as stats demonstrate Melbourne and the Victoria territory is responsible for twenty-four percent of Australia’s national GDP (Gross Domestic Product) and boasting a Triple-A credit rating from consistent economic growth over the past two decades.

Melbourne’s Citizens
Melbourne’s population consists of an ethnic diversity of Western and Asian, with 37 percent of the population of Melbourne between 25 and 49 years of age; with a median age of about 37 years old. Melbourne citizens are employed in retail, manufacturing, healthcare, and social assistance. Three quarters of the working population are 20 to 64 years of age and approximately 40 percent are in management or professional positions. In terms of lifestyle, Melbourne features much diversity of lifestyle, which ranges from businesspersons, to the younger ‘hipsters’ who follow the latest social trends and fashion styles, ‘hippies,’ who have generally rejected conventional norms, and the ‘baby boomers.’

Neighborhood Precincts

The city of Melbourne is divided into precincts, also known as neighborhoods, where the demographic diversity establishes a ‘unique flavor’ and becomes known for specific business and cultural activity.

Central Precinct Offerings
The heart of the Central city from LaTrobe to Finders street.

  • Retail: At the top end of Collins Street, you can find high fashion designer clothing, known as the haute coutures. On laneways between Finders, Bourke, and Little Collins Street are the local design boutiques and retro clothing stores. A wide range of retail shopping can also be found here, such as the Bourke Street Mall and Melbourne Central.
  • Financial: Collins Street begins the financial district.  
  • Legal Firms: Found on William Street.
  • Recreation, Tourist, and Entertainment:  Tourists will enjoy the Greek, Italian, and Chinatown precincts that can be found in the central city of Melbourne, as well as the museums and restaurants distinct to each precinct.
  • Fisherman’s Bend: Near the southwestern border of Melbourne, in the port area along the Yarra River of the central precinct is a section known as Fisherman’s Bend. Fisherman’s Bend is 455 ‘hectares,’ or approximately 1,360 acres, and it is divided into five precincts. It is presently in the midst of urban renewal and will become headquarters for design, engineering, and technology firms in the industry of aerospace, defense,
    marine, automotive design, and education.

North Precinct

The North precinct includes North and West Melbourne and Kensington. The North Precinct is a mix of older and newer homes, with residents finding work opportunities in a mixture of both industrial and retail businesses that include dining, retail clothing stores, and professional services.

South Precinct

  • The South precinct consists of the Yarra River, Southbank, South Wharf, Northbank and St. Kilda Road.
  • Southbank runs along the Yarra River to Southgate where the Crown Casino and Melbourne Convention and Exhibition Centre can be found.
  • On the west side of the South Precinct is South Wharf where residents and visitors enjoy the work opportunities of professional offices along with the convenience of socializing in cafes, bars, and taking in the cinema shows, along with abundant retail shopping.

The Docklands

The Docklands is located west of the Central Precinct on Victoria Harbor. The Docklands has numerous apartments, restaurants, and is home to a marina, a film studio, and major Australian business corporations such as Medibank; serving the health services industry and hospitals, NAB, National Australian Bank, one of the four largest banks in Australia, and the corporate business of Myer, serving the retail department, clothing, and shoe store industry.

Connecting Globally

While Australia is definitely a separate landmass and continent of its own standing, Australia is also a part of the Asia-Pacific region commonly referred to as APAC (Asian Pacific Australian Continent). The city of Melbourne, with active business communities in all precincts, not only satisfies native ‘Aussies’ but a global marketplace as well. The Australian initiative of 1989 brought about the founding of APEC, Asia-Pacific Economic Cooperation, and subsequently opened up business opportunities for 21 Asia-Pacific economies (including Russia, Canada, Chile, Mexico, Peru, and the United States).

Any business that has a base of customers in Australia or has potential customers in the Australian business market will want to consider the use of an Australia toll free number for their business and an Australian virtual phone number to directly reach customers, which can be city-specific.

Having an Australian virtual phone number from United World Telecom simply means that no matter where you are located, you are part of the local Melbourne landscape. There is no costly phone systems or phone lines to connect. With a virtual phone number, calls from your Australian business clients are forwarded to an existing phone system, mobile phone, or voicemail. Wherever you are, with whatever phone system used, your client needs to only dial the virtual phone number you provide and you will be connected!

by Tom Senkus

Author’s Bio: Tom Senkus is an international entrepreneur who shares his knowledge about conducting business worldwide. His work has been featured in over sixty online publications and across a number of industries. For more information, visit www.tomsenkuswriter.com

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