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Great Australian Dream shifts from buying a home to starting a business

As the ideas boom blooms, is the Great Australian Dream less home-ownership and more entrepreneurialism? ASK Crowe Horwath reveals key findings.

Enquiries about starting a new business and issues related to self-managed super funds (SMSFs) top the list of questions featuring in the recently launched ASK Crowe Horwath online problem solving portal, which provides obligation-free, professional insight on financial related matters.

“ASK Crowe Horwath was launched last year in Australia and now, after six months of operation, we can start to see some clear patterns in the nature of enquiries and advice sought,” said Thomas Paule, Chief of Marketing and Digital at Findex.

Got a question for a business or financial advisor? ASK us online.

ASK Crowe Horwath is targeted towards businesses and individuals, allowing questions to be posed by the general public and answered by Crowe Horwath advisors.

There are no boundaries to the questions that can be asked, with professionals covering the full spectrum of financial services.

The primary aim of the portal is to provide an easy point of access to professional and expert opinion.

“There are over a million SMSF trustees in Australia – that’s 1 in 24 Australians. Given their popularity, we anticipated SMSFs would figure prominently in enquiries to the site, but we are a little surprised by the level of interest in starting new businesses.” Paule said.

“One could hazard a guess that the spike in interest is a reflection of the ideas boom; there’s really never been a better time to start a business in Australia.”

“Certainly from our experience it seems this is on top of mind for many entrepreneurs who are considering their financial and professional future.”

“When it comes to the information given, our team clearly express the importance of having a business plan, not just an idea or a hope.”

“As an organisation that is highly involved with, and committed to, innovation as a pathway to growth – both individual and nationally – it has been interesting for us to note the key role technology regularly assumes in the enquiries we have been receiving about new businesses.”

So, could starting a business be the new Great Australian Dream?

“Based on our findings, it’s certainly possible, given our experience with ASK Crowe Horwath to date,” Mr. Paule said.

Due to the success of ASK Crowe Horwath portal in Australia, Crowe Horwath Australasia parent company, Findex, has launched a similar ASK Crowe Horwath site in New Zealand this week.

“It will be most interesting to see if the Australian experience is replicated in New Zealand.”