In addition to creating a great product or service, a successful business also needs to think about its location.
A good location can really help a business thrive. If you’re in the right location, you’ll have an edge above your competitors, make it easy for your customers to avail your services and allow your employees to commute to the office more easily. Moreover, the perfect location can also save you money over the long-term.
Now if you’re a budding entrepreneur and looking to do business in Brisbane, here are some facts about the city:
- Brisbane is the third most populous city in Australia
- Its central business district is mostly occupied by IT and finance corporations while the industrial sector is dominated by mining companies and metal works
- The city hosts several notable educational institutions
- The city is sometimes called Bris-Vegas because of its cosmopolitan lifestyle
- It’s rapidly developing into a bustling economic center in the Asia-Pacific region
- It’s also a tourist hotspot and is the most popular area in the Queensland region
With all that being said why is Brisbane a good place to start a business? The city has an abundance of potential and is an excellent breeding ground for startups. In fact, the Brisbane City Council is pushing for the city to transform into a digital hub by giving grants to entrepreneurs and providing them with other types of support.
Not only that, it’s home to several well-ranked universities and the cost of living in Brisbane is considerably lower as compared to other Australian cities like Sydney. So the city is a great option for startups working on a shoestring budget.
Serviced offices are available in Brisbane at economical rates of around $600 up to $1,000 per month. However, if you decide to set up your business outside the CBD in areas such as the Fortitude Valley or Toowong, then you can get a serviced space at around $400 to $900 per month.
In order to save costs you can always opt for a coworking space which already includes furnished work areas and basic amenities such as a high-speed Internet connections at very affordable daily, weekly or monthly plans.
Now what’s the best place to set up a business in Brisbane? Should you get a business address in the main CBD or should you consider the suburbs?
The answer actually depends on a lot of factors including your niche, budget, goals, services and products but let’s take a look at the benefits and drawbacks of some of the main business areas in Brisbane.
1.) The Brisbane CBD – The Main Choice
Starting a business in the city’s main business district is the best choice for any entrepreneur. Serviced offices and coworking spaces are easy to come by and are linked to various modes of public transport. Hosting numerous multinational corporations, the area provides invaluable networking opportunities for professionals in various industries. You can also find banks, restaurants, cafes, shopping malls and other amenities close by.
Rents can increase over time and it’s very possible that several of your competitors are already operating in the area. This could make it more difficult and costly for your startup to create a foothold in the market.
2.) The West End – The Choice for Creative Industries
If you’re dealing with the arts or if you’re targeting creative and artsy people then the West End is for you. It’s home to Queensland’s major art organisations, close to the CBD and easily accessible via public transport.
Many commercial buildings are under construction in the area so it’s possible for you to reserve an office space at a very affordable price.
Since the West End is still under development, the construction work makes it a rather noisy area to settle in.
3.) The North East/Fortitude Valley – A Good Choice for IT Setups
If you really mean business then the North East area might be perfect for you. The Fortitude Valley is fast becoming a center for big corporate names and IT-related giants such as Vodafone, QT Mutual Bank and Puma Energy. The area has a diverse culture, a lively nightlife and a number of leisure facilities.
It’s a great choice for tech startups since you’ll be able to mingle with like-minded people.
Some people feel a little unsafe because of the district’s nightlife activities. Residents are always cautioned to be extra careful when going out and wandering about at night.
4.) Toowong – A Retailer’s Bet
Toowong is a bustling area for commercial and retail businesses. The area is known for its numerous modern office buildings, eateries and shopping outlets. It also has a notable fashion and jewellery district with several universities nearby including the University of Queensland. The best part is that the rates for housing and apartment rents are some of the most affordable in Brisbane.
Since Toowong is full of professionals and students many residents usually complain about traffic problems in the area. The traffic is not expected to lessen anytime soon since the commercial areas are only expected to grow in the coming years.
Each of these locations are very accessible and directly connected to the CBD thanks to the excellent transport network set up in Brisbane. It doesn’t matter if you get an office in the suburbs because you can easily stay connected to the entire city via the buses, trains, taxis, and even a ferry if you feel like going to Toowoong.
If you’re planning to look around for serviced offices, coworking area or private offices in and around the Brisbane area, then head over to findmyworkspace.com and search for the perfect office now!