If you’re looking to start a new business, Ballarat may be the best place to do it.
The latest Business Risk Index from CreditorWatch has found Ballarat is the region with the lowest risk of business failure in the country.
The Merrylands-Guildford region in New South Wales was named the area with the highest risk of business failure Australia-wide.
CEO of CreditorWatch, Patrick Coghlan, says you’ve always got to have a number one, and Ballarat has always been on the low-risk side of the equation.
“There’s a few points that come through [such as] low commercial property costs, well established businesses [and] it’s also quite a popular tourist region for Melburnians as well,” he said.
“It just remains an affordable place to live and operate.”
The study, looking at regions with more than 5,000 businesses, also found businesses in the food and drink sector are the most at risk of payment defaults.
