From Lagos to Sydney: Steps for Launching Your First Business in Australia

Why Australia Appeals to Nigerian Entrepreneurs

Australia is well-known for its welcoming attitude toward skilled migrants and business investors. With robust consumer markets, well-regulated financial systems, and quality infrastructure, it presents fewer entry barriers compared to some Western counterparts. For Nigerians familiar with navigating complex business environments, Australia’s transparency and process-driven systems can offer refreshing clarity.

Other reasons Nigeria-to-Australia migration makes business sense in 2025:

• Ease of access to capital for eligible applicants

• Professional services sector in demand

• Growing African-Australian diaspora communities

• A stable currency compared to the naira

• Strong bilateral trade and education ties between both countries

Step 1: Determine Your Visa Pathway

If you’re not already residing in Australia, the first step is securing the right visa. For entrepreneurs and investors, the most relevant options include:

Business Innovation and Investment (Provisional) visa (subclass 188) This visa offers multiple streams:

• Business Innovation Stream (for those establishing a new business)

• Investor Stream (for those investing at least AUD 2.5 million)

Temporary Skill Shortage (TSS) visa (subclass 482) While not a direct business visa, it allows skilled individuals to enter the country and pivot to business later.

Each visa has eligibility criteria including net assets, turnover, business experience, and age. If unsure, consider speaking with a registered migration agent who understands both Nigerian and Australian frameworks.

Step 2: Decide on Your Business Structure

Before you launch, you’ll need to choose the legal structure of your business:

• Sole Trader

• Partnership

• Company

• Trust

Most migrants opt for the Company structure, as it separates personal and business assets. This setup also lends credibility to your operation when dealing with lenders and clients.

You’ll need an Australian Business Number (ABN), and if you register as a company, an Australian Company Number (ACN).

Step 3: Register Your Business

You can register your business online through the Australian Government’s Business Registration portal. You’ll need:

• A business name

• Registered Australian address

• TFN and ABN (for tax purposes)

If you’re not based in Australia yet, CM Group Consulting can help you with a local registered address and foundational setup.

Step 4: Open an Australian Business Bank Account

This is a critical step. Australian banks require identity verification and company documentation, which can sometimes be tricky for non-residents. Some banks allow remote onboarding, but a physical presence or an Australian partner may be required.

Having a business account legitimises your operations and makes tracking income and expenses more streamlined.

Step 5: Understand Local Compliance and Taxes

Unlike Nigeria, where informal business is common, Australia has a rigorous compliance system:

• Goods and Services Tax (GST): Charged at 10% for businesses earning over AUD 75,000/year.

• Business Activity Statements (BAS): Filed monthly or quarterly.

• Payroll obligations if hiring staff.

Understanding these obligations from the start is crucial to avoid fines. A local tax agent or accountant can save you from costly errors.

Step 6: Build a Local Network

Australia places high value on trust and relationships. Attend industry meetups, connect with multicultural business chambers, and join professional groups. The Nigerian community is growing steadily in major cities, and networking within the diaspora can open doors.

Don’t underestimate the value of a solid support system. From securing your first client to finding an office space, your network can make or break your first year.

Step 7: Develop a Localised Business Plan

What works in Lagos might not translate directly to Sydney. Be prepared to adapt your model:

• Research your competitors and target market

• Adjust pricing to reflect Australian costs and customer expectations

• Localise your marketing

• Align with Australian consumer standards and preferences

Make sure your plan includes a detailed budget, marketing strategy, and risk management section. If you plan to seek finance, this will be non-negotiable.

Step 8: Explore Funding Options

Securing funding can be a hurdle for migrant entrepreneurs, but there are options:

• Bank Loans: Usually require two years of trading history

• Non-bank lenders: May offer more flexible terms

• Government Grants: Some states provide startup grants for migrant founders

• Angel Investors or Venture Capital: If your business is scalable and tech-enabled

CM Group Consulting can guide you through sourcing finance or tapping into local investor networks.

Step 9: Find the Right Property (if needed)

If your business needs a physical location, such as a shopfront, warehouse or office, ensure it complies with local council zoning laws.

Avoid the trap of purchasing land, which can be risky or legally complicated for overseas buyers. Instead, explore commercial leases or property ownership through the proper business channels. CM Group Consulting does not deal in land sales, only built properties or developments.

Step 10: Launch and Market Your Business

Build a basic website, set up social media channels, and list your business on Google My Business. Consider:

• Digital advertising

• Collaborations with local influencers

• Google Ads for location-based targeting

Word of mouth still goes a long way, so don’t be shy about telling people what you do. Use every opportunity to introduce your business to potential clients and partners.