Summary of the paper
Australia is often looked at as a natural stepping stone for Kiwi businesses who are keen to grow. For this insights paper, we hear stories from four diverse businesses about their trans-Tasman experience and what they think it takes to succeed. We also talk to David Downs, CEO of New Zealand Story Group, about what you might need to do differently to win in Australia, and who you could go to for advice.
Expanding any business is a financial challenge. John Conlan at MinterEllisonRuddWatts and Ben Smith at MinterEllison outline some key considerations when setting up your company in Australia. You’ll also find key resources to help you get started – and how ANZ can help you along the way.
This paper is a must-read for businesses with growth ambitions across the Tasman.
Mastering the market
“You have to be proactive. Go over there with a curious mind and ask lots of questions.”
Rob Achten, Co-founder and CEO, Animals Like Us
“Don’t assume that New Zealand is an extension of Australia, because it actually isn’t.”
Michelle Aquilina, CEO, MoleMap
“You must put your best people on the ground for bandwidth to really focus on Australia.”
Ben Moir, Group Managing Director, James Dunlop Textiles
“It’s much less risky when you’ve got a solid New Zealand business because it will take longer and cost more to get established than you expect.”
Kate Callender, CFO, BLUNT Umbrellas
Establishing your company in Australia
Understand the regulations that impact your industry
Australia is more extensively regulated than New Zealand – and the law can vary between states. As your business grows and matures, you’ll need to be aware of different regulatory layers that might not exist in New Zealand.
Get trans-Tasman tax advice
Before you decide to establish an Australian presence, getting independent tax advice is important. Decisions you make on day one can impact your business when you’re looking to grow, and if you haven’t got it right from the start, it can be a painful lesson to learn.
Choose a business structure
While broadly the same entities exist in Australia as they do in New Zealand, it’s important to be aware they’re taxed very differently. Think carefully about where the centre of your business will be and your long-term plan to avoid unwittingly putting the wrong business structure in place.
Getting your banking sorted
Banking between New Zealand and Australia isn’t as straightforward as one might expect. Having a bank that is trans-Tasman, like ANZ, can help. One way we make it easier is with our online platform, ANZ Transactive – Global—.
Managing your banking in one platform can make things a lot easier and give you greater visibility and control of your business’ finances. ANZ Transactive – Global is a web-based banking platform and mobile app that connects your transaction banking across New Zealand and Australia. With a single sign-on you have access to banking services across cash, liquidity management, trade, markets, and card management.
Essential help for Kiwi businesses
New Zealand Trade and Enterprise (NZTE)
NZTE’s services are designed to help businesses grow and succeed internationally by providing focused assistance in research and development, operations, marketing, capital, strategy, leadership, customers, and markets.
The Ministry of Business, Innovation and Employment (MBIE)
MBIE provides advice and support to Kiwi businesses at all stages of their life cycle.
Advisers
Not only will your professional network be able to help you with the practical side of setting up your business in Australia, but they can be a valuable source of advice and connections. While some of this advice will be free of charge, certain advice incurs a cost – but it is often money well spent.
“Talking to your bank, accountant, or lawyer can be a good first step because they have established networks, and deep relationships with clients. They understand business inside and out, and they know exactly what happened behind the scenes of the success stories.”
John Conlan, Partner and Head of Corporate, Wellington, MinterEllisonRuddWatts
Read the full paper
Read about how to get set up in Australia, considerations from a banking and tax perspective, key resources to help you get started, and how other Kiwi businesses have made their mark.
Contact an ANZ Business Specialist
Our specialists understand your kind of business and the challenges you face as a business owner. We can help you figure out how to make your business grow and succeed.
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Important information
This information has been prepared by ANZ Bank New Zealand Limited (ANZ) for informational purposes only. It is a necessarily brief and general summary of the subjects covered and does not constitute advice. You should seek professional advice relevant to your individual circumstances. While the information contained in this document is from sources perceived by ANZ to be reliable and accurate, ANZ cannot warrant its accuracy, completeness or suitability for your intended use. To the extent the law allows, neither ANZ nor any other person involved in the preparation of this document accepts any responsibility or liability for any direct or indirect loss or damage arising from any act or omissions by any person relying on the opinions or information (including the accuracy or completeness thereof) contained in it. This report is current as at July 2024 and the details in it are subject to change.
**References to "Australia,” “Australian” or “AU” with respect to any payments, products, services and/or accounts means payments made by, accounts held with and products and service provided by Australia and New Zealand Banking Group from or within Australia; and
References to "New Zealand" or "NZ", unless otherwise specified herein, with respect to any payments, products, services and/or accounts means payments made by, accounts held with and products and service provided by ANZ Bank New Zealand Limited from or within New Zealand.