Another boost for Melbourne’s small businesses and start-ups

Melbourne has been ranked as one of the world's top cities for business start-ups in a global audit conducted by global consultancy firm Start Up Genome. The organisation recently published its annual report which highlights Melbourne as a leading city when it comes to fostering small and start-up businesses.

Local success stories include every-day Australian icons such as Seek.com, Carsales.com and the REA group - all of which had their beginnings in Melbourne. Since publicly listing, these companies alone have created more than $10 billion in economic value.

However, the honour roll also extends to numerous small businesses and start-ups that, despite being in the early phases of establishment, have managed to attract the attention of global giants especially in the field of bio-medicine where Melbourne is regarded as one the world's top ten nations.

Melbourne biosciences company, Geneseq is one start up that has already attracted the attention of world markets and is benefiting from the small business support provided by the City of Melbourne.

Recently returned from a Council-led business mission to China and Japan, the company is at the forefront of the development of a non-invasive test for melanoma which is Australia's biggest killer, responsible for the deaths of three people every day.

Geneseq founder, Ryan Van Laar, said the ground breaking test looks for the genetic signal of melanoma in people's blood.

"Rather than trying to find melanoma by looking outside the body at the skin, we're looking internally. It will be a test that people can order through their GP," he said.

Councillor Susan Riley, Chair of the City of Melbourne's small business, retail and hospitality portfolio, highlighted the significance of Geneseq's development.

"Getting melanoma treated early is the key and this is a significant, global development that's being made right here in Melbourne," she said.

Business start-ups tend to have humble beginnings, often working from back rooms, garages and even dining room tables, but research shows that these businesses develop more quickly when established within localised business 'ecosystems' and when given access to direct financial and mentoring support.

Melbourne's popularity as a base for start-ups and small businesses is evidenced in the latest data from Start Up Genome, which shows one quarter of the city's entrepreneurs specifically moved to Melbourne to establish their business. 

"Since its inception in 1996, the City of Melbourne's Small Business Grants Program has provided more than $8.4 million in direct financial support to 378 small businesses across retail, manufacturing, medicine, technology – around one third of the recipients are classified as start-up businesses," Councillor Riley said.

The cash support offered by the City of Melbourne as part of the grants program is a significant incentive for new or emerging small businesses.

"This is all about growing our local economy, creating jobs and ensuring that the City of Melbourne continues to grow," Councillor Riley said.

"The economic multipliers of small and start-up businesses are huge and are a vital part of the city's success."

The grant program is open to all small or start-up businesses, businesses looking to expand or businesses seeking to enter export markets.  Application and eligibility criteria for the 2018 Small Business Grants can be found on the City of Melbourne's website, melbourne.vic.gov.au