Tips to Start business in Melbourne Josh Martin Griffith University Key Terms: Top 5 Reasons to Buy a Business in Melbourne, How to Start a New Business in Australia Introduction: Melbourne is an exciting city where modern architecture and design is juxtaposed with heritage buildings reflecting Australia’s unique history. As the capital of the state of Victoria, Melbourne’s resource boom presents the single most significant opportunity for the state economy over the next 20 years. Beneath the city’s impressive façade, lies the true heart and soul of the city; laneways which snake the city grid to reveal cafés and bars, fashion houses, boutiques, innovative cuisine, galleries, theatres and museums. Melbourne has an eclectic mix of residents from students, business people and tourists. Melbourne’s many free public events, Aboriginal cultural centres, sophisticated secret laneways, and golf courses create countless business opportunities for any budding entrepreneur who wants to do business in Melbourne. To take an idea and turn it into a business can be an exciting but often anxious time. You need to create a business plan with concrete data, ensure you have all required permits, and register your business with the proper authorities. The good news is that there is plenty of assistance out there, particularly at various levels of government. Top 5 Reasons to Buy a Business in Melbourne Buying a business in Melbourne is a great alternative to starting your own from scratch. The process of starting a business can be an overwhelming prospect, especially for those who have never started or owned their own business before. When you buy a business, there’s already an established infrastructure and cash flow. When you start a business from scratch, it may take some time before you start to see sales, and not knowing how long that delay will last can be worrisome. People often buy businesses for similar reasons, most notably that established businesses have a proven track record that shows they are viable. Buying an established business in Melbourne may be the perfect business option for you.