New e-commerce platform launches Down Under

Internet Retailing

25th Oct 2017

Marking its official launch in Australia today, online platform, Squarespace, has released new research about the state of entrepreneurism Down Under.

According to a survey of 1,000 Australian adults aged 18-59 years, half are either interested in starting their own business or passion project (40 per cent) or have already done so (10 per cent).

That number is even higher among millennials, 77 per cent of whom said they would like to be their own boss.

Overall, 78 per cent of Australians believe doing what they love or are passionate about is more important than earning a lot of money, and they are willing to give up a lot to do so. (See below.)

But the study also found that Australians are risk-averse, with only 19 per cent associating taking new risks with workforce success. Most Australians are hampered by fears and concerns, largely rooted in the financial costs of failure.

Squarespace CEO Anthony Casalena said he’s familiar with the risks and fears associated with starting a business, but that access to online tools are making it easier to take the plunge.

“Today, it’s easier than ever to start a business and strike out on your own. We’re excited to support the next generation of entrepreneurs in Australia by providing them with the resources they need to establish a strong online identity and pursue their passions,” Casalena said.

The US-based company aims to help individuals start their own business by offering a range of online tools, including a website builder, e-commerce platform and domains manager.

Key stats from the survey

• 68% of Australians want to be their own boss
• 58% women and 47% men would give up alcohol for a month to do so
• 58% women and 50% men would give up social media for a week to do so
• 46% women and 35% men would give up lovemaking for a month to do so
• 68% women vs 54% men see success in the workforce is more about doing something they love or that they’re passionate about
• 53% women vs 40% men see making a difference in the lives of others as a marker of success in the workforce
• 50% women vs 40% men believe that accomplishing goals with a team of others defines success in the workforce
• 49% women vs 33% men are motivated to start their own business as a means of spending more time with their family
• 51% women vs 32% men cited simply not knowing where to start as the biggest barrier to starting their own business

The study was conducted by AMR Research, of just over 1,000 Australians ages 18-59 years. Survey data collected was designed to ensure a nationally representative snapshot of adult Australians across demographics and states. See more details on methodology below.