Australia is one of the only developed countries whose economy has remained resilient and sturdy during recent testing times. This is one of the reasons that Australia today stands tall when it comes to infrastructure development and digital advancement. The Australian government has flexible business support programs and policies that allow the businesses operating in the country a level playing field with a stable economic and political environment. Therefore, the closure rate of new and old businesses in Australia is one of the lowest in the region.
Due to this economic resilience and Australia’s urge to move towards a completely digitized culture, the software development industry in the country is growing at a substantially fast pace. In fact, this growth is not like the “Dot Com” bubble that escalated and then burst. The software industry in Australia had moderate beginnings but with a solid foundation. The policies of Australian authorities played a crucial role at this point when they opened Australia for IT and software professionals to move and settle down in Australia. Australia offers a secure future perked with extravagant premium lifestyle. Apart from producing talented software engineers, developers, architects, maintenance resources etc from Australia’s local higher education institutes, the influx of the professionals with same talent from the world made Australian software industry a leader in innovation and digitization. Recent surveys are indicative of the fact that Australian Software industry is one of the fastest growing in the world with its ability to produce world-class software applications.
According to the IBIS World research report data, the total market value of Australian software publishing stood at $3.1 billion in 2017. It grew at about annualized 8.5% during the past 2 years and is expected to grow at about 7.1% in 2020 and beyond. This means that the software industry of Australia has remained unmarred by the recent economic crunches and has now a stable growth rate that will continue to rise. Also, IBIS World’s 2019-2024 Software Publishing outlook indicates
“The Software Publishing industry is projected to continue growing over the next five years. Technological changes that have affected the industry’s competitive landscape over the past five years, such as cloud computing and mobile internet, are forecast to continue advancing, allowing innovative smaller players to explore the potential of new technologies and gain a foothold in the industry. While the rising popularity of online software marketplaces grants local players access to lucrative markets abroad, these same online marketplaces offer foreign-based software publishers’ easier access to the Australian market.”
According to the computer software development related job outlook, The number of people working as Software and Applications Programmers grew very strongly over the past 5 years and is expected to keep the same growth rate for the next 5 years i.e. from 121,300 in 2018 to 146,800 by 2023. There are likely to be around 80,000 job openings over 5 years (That is about 16,000 jobs a year.)
Here are some quick facts about the Australian Software Industry
- One in 10 software related workers earns more than $2,548 per week on an average
- Healthcare and social assistance is the largest industry where the use of software is extensive
- Programming, System analysis and System evaluation are the top demanded skills throughout Australia
- The migration inflow of software developers and programmers stands at about 5,000 plus during the past few years
- About 5,000 ICT graduates and postgraduates complete their courses every year
- The API based software solutions are anticipated to grow four times by 2020
- The Australian software development industry not only supports the local industries, but also earns foreign exchange through software service export to other countries.
Here are some benefits of doing a software business in Australia:
- Robust Economy
Australia’s economic resilience and steady growth prospects provide a low-risk environment in which to do business.
- Dynamic Industries
Australia is globally successful in major industries, and a leader in new digital technologies.
- Innovation and Skills
Australia offers a highly educated, multicultural workforce with an enterprising mindset.
- Global Ties
Australia is a globally integrated economy with strong trade and investment links with the growing Asia-Pacific region.
- Strong Foundations
In an uncertain world, Australia’s sound governance makes it one of the safest places in the world to do business.
Apart from these facts, the Australian Government is keen on the development of the country’s ICT infrastructure. For this reason, many new fields within the ICT industry of the country are given perks such as tax breaks and governmental subsidies. All in all, if you are a software professional looking to take your business to the next level, then Australia is a natural choice. The numbers speak for themselves and the country will provide you with an environment conducive to good business that will help you grow exponentially in all directions.
BMS is an Australian owned and operated company that provides business consultation to migrations agents, consultants and lawyers regarding setting up a business, running it and scaling it. The team at BMS has more than 17 years of experience with a portfolio of successful businesses that were given consultation and built from scratch. BMS Australia provides consultation in the following migration consultancy fields – but not limited to:
- Turnkey Migration settlement services and Migration Business Setup
- Advice on CRM selection, deployment and integration
- Sales and Marketing strategies for businesses and immigration consultants
- Lead Generation & Customer onboarding
- Accounting and Cashflow strategies
- Documentation & Application Lodgement
- Appeal Lodgement Training and Consultation
- Customizing Complex Applications
If you would like BMS Australia to help you succeed in your business then you can get in touch with us by clicking here or call +61499903263.